HSBC has named banking veteran Vivek Ramachandran as CEO of its new venture, Jasmine22.
Part of HSBC’s technology investment to shape the future of business, Jasmine22 is a new international trading solution that is built on Google Cloud to cater to the trading needs of globally-minded SMEs.
The bank has yet to officially launch the project, which is based in dedicated office space at The Great Rooms, a co-working space in Hong Kong, and will operate as a standalone start-up environment with the backing of HSBC.
Speaking to GTR about his new role, Ramachandran says: “Jasmine22 is a concept that takes a different approach to traditional trade to meet the specific needs of small businesses. We will be able to explain more when we have developed and tested the platform.”
Ramachandran has been with HSBC since 2015, where he most recently served as global head of growth and innovation. Prior to this, he held various roles at Barclays and Lloyds TSB over a nine-year period.
Jasmine22 is currently recruiting for a number of technology, platform and operations roles, as well as a business development hire to build relationships with SMEs, Hong Kong government bodies, trade organisations and other stakeholders.