SMBC has appointed a new head of global trade finance as Toshihide Orita moves to a new position at a machinery manufacturer. Taking over from Orita is Toshio Ishizuka.

Ishizuka has headed SMBC’s global securities business since 2007. Before that, he was head of marketing in Bangkok from 2003-7, and spent eight years promoting trade and corporate finance based in San Francisco.

Says Ishizuka: “It is a great honour to carry forward the torch which Toshihide Orita has lit and carried. In these risk averse times, trade finance continues to have a very important role in international intermediation and risk hedging, and will be a key driver of the eventual recovery. I believe we have the people, the products and the global reach to serve our clients very well in these challenging times.”

Orita held the position of global head of trade finance at SMBC since 2004, but has stepped down, and as of June 1, has taken up a new position as head of overseas business strategy at machinery manufacturer Daifuku.

In this role he will be responsible for the strategic growth of the company including acquisitions, partnerships and expanding its international profile.

Orita comments: “Like all trade financiers I have experienced that special buzz that comes from making money in markets where others fear to tread. Over the past 13 years I have enjoyed the roller-coaster that is emerging markets with its dramatic crises and its many triumphs. It has been my privilege and delight to work with wonderful clients including exporters, traders and banks, as well as with a fantastic team. Although the world is going through a tough and uncertain period now, it is neither the first nor will it be the last period of turbulence. Now is still a very good time to be in trade finance. Although I am retiring from SMBC, I am not leaving the world of cross border business.”