May 10, 2013
May 9th 2013 - Deutsche Bank today announced the appointments of Frank Wu as Asia Pacific Head of Structured Commodity Trade Finance (SCTF) and Evert-Jan Zondag as Asia Pacific Head of Structured Trade & Export Finance (STEF) in Global Transaction Banking.
Based in Singapore, Frank will report to Kaushik Shaparia, Asia Pacific Head of Trade Finance & Cash Management for Corporates regionally, and to John MacNamara, Global Head of Structured Commodity Trade Finance globally. Frank will be responsible for expanding the Bank’s SCTF business in the Asia Pacific region, particularly in China in response to the Bank’s growing client demand in this market.
Prior to taking his new role, Frank was based in Shanghai, where he was Head of Trade Finance & Cash Management for Corporates – Greater China. Frank joined Deutsche Bank in 2008 as China Head of structured Trade & Export Finance and has 19 years of experience in the banking industry.
Also reporting to Kaushik Shaparia, Evert-Jan will continue to be based in Hong Kong and will drive the strategic growth of Deutsche Bank’s Structured Trade & Export Finance business throughout the region.
Evert-Jan previously ran the Bank’s STEF business in Hong Kong. He joined Deutsche Bank in 2010 and has over 17 years of experience in the banking industry.
In commenting on these appointments, Kaushik Shaparia, Asia Pacific Head of Trade Finance & Cash Management for Corporates, Global Transaction Banking at Deutsche Bank, said: “We are delighted to see internal talent seize new opportunities within the Bank. By having a dedicated leader for each of our structured trade businesses, we are realigning for future growth. Structured Trade & Export Finance and Structured Commodity Trade Finance are highly specialised fields hinging on both scale and expertise, and I am confident that Frank and Evert-Jan will help us take these important businesses to the next level.”
Deutsche Bank’s SCTF business specialises in creating and delivering state-of-the-art structured trade finance solutions for clients in the commodities sector. Its solutions rely on self-liquidating cash flows generated from the trading of commodities to support finance structures and mitigate associated credit and transfer risks.
Deutsche Bank’s STEF business arranges medium and long-term loans to finance its clients’ imports, exports and investments in emerging and developed markets. It works with export credit agencies, multilateral and private market insurance companies to mitigate risk.
Re-disseminated by The Asian Banker