HSBC has continued to strengthen its trade and supply chain service with the appointment of Wei Wei Ng as the bank’s new head of trade and supply chain in Malaysia, where she will oversee a team of around 200. Ng’s new role follows January’s appointment of Vinay Mendonca to the newly created global head of traditional trade product. Martin Ong, HSBC’s business support manager of commercial banking for the northern region of Malaysia, will replace Ng in the interim while the bank looks for a replacement.
“The appointment of a commercially experienced senior executive supports our continued focus and commitment to developing our business in one of Asia’s most dynamic markets,” said Simon Constantinides, HSBC’s Asia-Pacific (ex-Greater China) regional head of trade and supply chain, in a statement. “Wei Wei brings to her new role a wealth of corporate banking experience and will be instrumental in executing our growth strategy across Southeast Asia.”
According to a spokesperson for HSBC, Ng will be responsible for building and driving the growth of the bank’s trade and supply chain business in Malaysia through the delivery of value propositions that meet the needs of clients. She will also increase international business trade flows by leveraging on the bank’s global branch network.
“We see Malaysia as one of the key emerging markets driving global trade growth, so Ng will be responsible for delivering our clients with a range of products and services to help them take advantage of the extensive business opportunities that the current financial environment provides,” said the same representative.
Ng was responsible for building HSBC’s business banking franchise in her previous role as regional director for commercial banking in the northern region of Malaysia. She has also held several other positions in the country, including senior vice-president of Malaysian multinational corporate for commercial banking and head of product management for global payments and cash management.
“As evidenced by the HSBC Trade Confidence Index, Malaysia is experiencing exceptional opportunities for cross-border growth,” said Constantinides in the same statement. “We believe that the combination of our leading trade and supply chain solutions, as an extension of our leading international business proposition, requires executives with a broad understanding of international corporate and transaction banking.”
Last September, HSBC strengthened its payments and cash management business with three announcements in as many weeks, starting with regional global payments and cash management heads in Korea and Indonesia.
The bank then appointed regional global payments and cash managements heads in China and Thailand the following week. It wrapped up a busy month of announcements with a new head of payments and cash management in Vietnam and a mandate win from LG Innotek.
