ING Switzerland has expanded its trade and commodity finance (TCF) department with the hire of Fabienne Jaggy Moriggi as global head of TCF products, effective immediately.

Jaggy Moriggi joins from SMBC, where she spent three years, most recently as head of structured trade finance. Prior to SMBC, she had been with Rabobank for nearly 10 years, first as executive director of trade and commodity finance and then as London head of TCF, metals and minerals. Jaggy Morggi previously spent five years working as relationship manager for trade and commodity finance at UBS Wealth Management, and three years as corporate affairs manager at Lafarge.

She is based in Geneva and reports to Maarten Koning, global head of TCF, and Gregory Lambillon, CEO and country manager of ING in Switzerland.

Jaggy Moriggi leads the newly created TCF products department, which integrates several existing teams, including structured commodity finance, pre-payment, pre-export finance and commodity processing borrowing bases, non-recourse receivable discounting and letter of credit confirmations, among other divisions.

An ING Switzerland spokesperson tells GTR that Jaggy Moriggi’s first priority will be to expand regionally, developing the team’s three key revenue streams: supply chain finance, oil price uncertainty discounting and letter of credit confirmation.

“I am excited to begin this new journey with ING, focusing on product development to expand the journey and grow the difference for our customers,” Jaggy Moriggi tells GTR.

Jaggy Moriggi’s hire coincides with the move of Annabel Lammers to global lead of structured commodity finance, also in the Geneva office. Lammers previously spent seven years as senior credit officer in the trade and commodity finance department of ING Netherlands.

ING’s TCF business was reshuffled last February, dividing its portfolio between large commodity finance clients and those requiring specialised lending.