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HSBC boosts trade distribution finance team with Singapore hire

I-Mei_ChanHSBC has boosted its trade finance distribution team with the hire of I-Mei Chan as the head of portfolio management and distribution, global trade and receivables finance (GTRF) in Asia Pacific. Chan will be based in Singapore and reports to Ajay Sharma, regional head of GTRF in Asia Pacific, and Surath Sengupta, global head of portfolio management and distribution, GTRF. “At a time when demand for trade finance greatly outstrips supply – the Asian Development Bank calculates that a trade finance gap of US$1.5 trillion – bringing institutional capital to the trade finance market is more urgent,” HSBC said in a statement. “As businesses run by women as well as small and medium-sized enterprises face greater challenges in accessing trade finance, widening the investor base of trade finance assets will remove some of those barriers.” Sharma added that HSBC is in a “unique position to transform and facilitate trade”. He said: “The added liquidity will go a long way toward narrowing the trade finance gap, bringing benefits to the real economy by making trade finance more accessible to those who need it.” © 2020 funds global asia

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