MUFG Bank has hired Vikas Arora as managing director and head of sales, transaction banking for Asia.

Arora moves from a 25-year stint at Deutsche Bank, where he most recently held the position of head of global transaction banking and institutional cash management for South Asia at the bank’s Singapore arm. During his time at Deutsche he worked in various roles, including head of corporate banking for its Bangalore branch in India, before moving to Singapore in 2007 to take up the position of managing director and head of trade finance for financial institutions, APAC.

A spokesperson for MUFG Bank tells GTR that Arora has not replaced anyone and that his role was previously performed by Vivek Batra, regional head of transaction banking for Asia and Oceania, and to whom Arora will report.

Based in Singapore, Arora will be responsible for developing and implementing transaction banking sales plans and strategies to build the bank’s existing business with its corporate clients across key locations in Asia.

The hire follows the appointment of former HSBC executive Colin Richmond-Wells to the role of managing director and head of transaction banking for Oceania, as MUFG scales up its transaction banking business.

“Asia is a market of utmost importance to MUFG, and transaction banking is an integral component of not just the bank’s regional growth strategy but our suite of client-centric business solutions,” Batra tells GTR. “The appointment of senior bankers such as Vikas and Colin to the regional TB team therefore reflects our commitment to significantly enhance our business through increasing cross-sell and product capability for our local, global and Japanese corporate customers.”