SMBC has established a product development division led by Hiroshi Matsushita.

The Tokyo-headquartered bank says the product development and governance unit will help the bank innovate in a “dynamic and competitive” trade finance landscape.

“With the establishment of a specialised product team, the solution sales team can further enhance their ability to provide solutions to customers, thereby increasing the value offered to customers in collaboration with the product team,” says Hiromitsu Yoshizawa, SMBC’s global head of trade finance.

The bank says the unit will be staffed by “banking and technology experts” and focus on building digital trade finance products and advanced working capital solutions.

London-based Matsushita has been appointed global head of product development and governance, in addition to being co-head of trade finance in Emea, a role he now shares with Jonathan Joseph-Horne. Both report to Yoshizawa.

Matsushita has been with SMBC since 1994 and held various senior trade roles in Asia, the US, and Europe. Joseph-Horne joined the bank in 2011 and has held leadership roles in export finance and trade finance.

“I am honoured to take on this new role and to be a part of the new era of trade finance at SMBC,” Matsushita says. “This newly formed specialist product development unit will enhance our agility and capacity to innovate, and we hope will ensure we remain at the forefront of our industry.”