HSBC has promoted Rohit Joshi to head of global payments and cash management (PCM), Singapore.

Joshi replaces Iain Taylor who will take the role of global head of marketing for HSBC’s global transaction banking.

John Laurens, HSBC’s PCM head, says: “Singapore is an established global financial centre and remains a key focus of our regional business strategy. Rohit’s appointment in this key market perpetuates our aggressive growth strategy and joins recent strategic appointments across the region.”

Joshi was previously the senior manager for commercial banking, Hong Kong, where he led a team responsible for driving strategy and developing the franchise. Before this, he was managing director of HSBC Bank Mauritius.