HSBC’s global head of business development, global trade and receivables finance (GTRF), Bart Ras, and managing director of global commodity and structured trade finance, Jean-François Lambert, have left the bank, GTR can confirm.
It is not yet known whether they have accepted new positions, or whether they will be replaced at HSBC, as the bank is undergoing a structural review of its business.
“As flagged in our investor update we have targeted significant cost reductions by the end of 2017, and we continually review and manage our overall headcount requirements,” the bank says in a statement.
Ras joined HSBC in October 2013 from Citibank, where he headed trade and supply chain finance Emea for two years.
Lambert had been the global head of of HSBC’s commodity and structured finance team since 2010.