Erste Group Bank (EGB) has hired Andy Teo as director trade finance Asia in Hong Kong.

Teo moves from Lloyds Banking Group where he held the position of director, trade finance sales Asia, having previously worked at Mizuho Bank.

Commenting on the hire, head of EGB’s Asian business in Hong Kong Graham Kershaw says: “We are very glad to have Andy join our Asian transaction banking team. His broad trade experience gained in south-east Asian and Indian markets complements our China and North Asian business activities and further supports the development of our Asia wide core trade finance competence.”

“Our clients in central and eastern Europe are developing increasingly large trade links with Asia and the Indian subcontinent, and a growing number of companies are locating manufacturing operations in CEE to benefit from the region’s labour force, its proximity to western European markets as well as the stability arising from EU membership. Collectively, these developments underpin exponential growth in two-way trade flows between CEE and Asia and India,” Kershaw adds.