Barclays has announced a series of appointments on its trade finance leadership team in Asia on August 5. Brandon Feng has been named head of trade and working capital team across North and Southeast Asia while Jeroen Reyes Stolker is now head of trade and working capital for the Middle East and India.
Feng and Stolker report to Baihas Baghdadi, managing director and head of trade and working capital, international, who commented: “The Barclays trade and working capital business offers corporates and financial institutions end-to-end trade solutions, and is able to leverage the strength of Barclays’ home market franchises in the UK and US, and a deep presence across Africa, to provide coverage across key global trade corridors.”
“Both Jeroen and Brandon bring a wealth of experience to their new roles, and will allow us to effectively bring our global capabilities to our growing trade client base across the Asia-Pacific region,” he added.
Feng previously headed the regional trade product management and solutions team in Asia-Pacific, a role that will now be filled by Vinod Venkat. Feng joined Barclays in 2011 from Deutsche Bank, where he oversaw financial supply chain products in the region.
Stolker has already relocated to Dubai from Madrid, where he was in charge of business development and product management for Barclays trade and working capital franchise. He joined the bank in 2007 from Citi.
The bank also announced that Nadeem Siddiqui, current head of financial institutions trade sales Asia ex India, has expanded his role to cover global corporates in North Asia. Both Siddiqui and Venkat will report to Feng.
Barclays has embarked on a strategy to reduce the core investment bank’s contribution to risk weighted assets of the bank to no more than 30% while reallocating capital towards traditional banking activities. In Asia, Barclays corporate banking has presence in six locations: Hong Kong, India, Japan, Pakistan, Singapore and the UAE. The group employs assets of around US$123 billion in the region (as of December 2013), according to S&P Capital IQ.
Commenting on the future of Barclays corporate banking in Asia, Baghdadi said: “Asia remains vital to our international corporate banking offering. The strength of talent in the regional team is key to supporting our growth ambitions in Asia, with trade finance a capital efficient and strategically attractive business for the Barclays group.”