Nedbank CIB has brought in former Standard Bank and Standard Chartered trade head Vinod Madhavan as a divisional executive for transactional services. 

Johannesburg-based Madhavan has returned to banking after three years as deputy chief executive of Botswana-headquartered retailer Choppies. 

Prior to this, he held several roles at Standard Bank, including as group head of trade, also based in Johannesburg.  

He previously spent nearly 13 years at Standard Chartered, including as global head of receivables, supply chain finance and local corporate products in Singapore, and also had spells at both Citi and Deutsche Bank in India. 

At Nedbank, Madhavan has been tasked with overseeing end-to-end strategy, innovation and performance of the lender’s transaction services portfolio, including by scaling trade and working capital solutions through digitalisation. 

The transaction services division also spans asset-backed finance, payments and working capital solutions for both corporates and financial institutions. He is also expected to enhance operational resilience while overseeing cost-to-income ratios and risk frameworks. 

He reports to Ashraf Patel, managing executive for transactional services. 

“I’m excited by the opportunity to contribute to an important growth vector for Nedbank CIB, and to help scale transactional services,” Madhavan told GTR. “I’m also very much looking forward to reconnecting with fellow practitioners across the industry and, most importantly, our clients.” 

Madhavan has served on the International Chamber of Commerce’s Banking Commission Advisory Board and has chaired the Global Trade Industry Council at Baft (Bankers Association for Finance and Trade). 

The move marks the latest in Nedbank’s effort to grow its trade business across key corridors, following last year’s appointment of Rashnee Pather as head of supply chain finance.