Standard Chartered has appointed its first ever global head of commodity trade finance, based in Singapore.
Clemence Avril took up the position in December last year, joining the bank from BNP Paribas in Singapore, a spokesperson says.
Avril reports to Kai Fehr, Standard Chartered’s global head of trade and working capital.
Avril left BNP Paribas as head of global trade solutions for Apac, which capped a 19-year career at the French lender, most of it in commodity finance roles.
Several major European banks, including Standard Chartered, were stung by the collapse of commodity traders in Singapore and elsewhere in Asia and the Middle East in 2020, prompting some to curb lending to the sector.
However market sources have told GTR that such lenders are likely to return to commodity finance, attracted in part by the prospect of higher margins amid soaring energy prices.