Standard Chartered has formed a global treasury solutions team for its transaction banking business to be led by Victor Penna, who has been appointed head of treasury solutions, transaction banking in Singapore.
The newly formed team will be responsible for providing best-practice treasury advice and delivering global and regional cash management tailored to clients' needs. It will seek to build on the bank's strong footprint in emerging markets across Asia, Africa and the Middle East.
A Standard Chartered spokesperson told SRP that the global treasury solutions team will focus on cash solutions but will also work closely with the bank's dedicated structured products team to tap into their expertise to provide structured corporate treasury solutions, custom-made solutions, traditional flow products, structured trade, commodities and export finance.
Standard Chartered's equity derivatives and structured products unit is headed by Min Park, who joined as global head of equity derivatives and convertibles sales in July.
Penna will report to Jiten Arora, global head of sales, transaction banking. He joins from JPMorgan, where he was regional head of the treasury solutions team in the Asia Pacific region.
In addition, the bank has appointed four treasury solutions advisers: Philippe Tian who will cover China and Taiwan, based in Shanghai; Brian Leung, covering Hong Kong, Korea and Japan, based in Hong Kong; Byron Gardiner, covering South East Asia, based in Singapore; and Olle Malmgren, covering the Middle East and Africa, based in Dubai.