HSBC has appointed Vinay Mendonca to the newly created role of chief growth officer, effective immediately, as part of wider changes to the way the bank’s global trade and receivables finance (GTRF) business is led.

Mendonca has been with HSBC for almost 17 years in various senior roles, most recently as global head of product, propositions and structuring. He also served as interim co-head of GTRF for the bank during the first half of this year, after Natalie Blyth left the role to become global head of commercial banking sustainability.

In his new role, Mendonca is charged with executing on the bank’s GTRF growth strategy, and will work to commercialise partnerships and build sector leadership, including leading the financial institution and commodity trade business.

He continues to report to Vivek Ramachandran, who took the reins of the GTRF business in May this year.

The other new roles that have been created amid the reorganisation include that of chief operating officer, which involves responsibility for all transaction fulfilment and transformation activities across the GTRF function. That role has yet to be filled, however GTR understands that recruitment is currently underway.

The position of chief production officer has also been created, and is also yet to be filled. As the most senior product role in the GTRF function, this position largely replaces Mendonca’s former role.