DBS names Nicole Wong new supply chain financing head

Stocks and Financial Services Press Releases Friday November 29, 2013 09:29
Singapore--29 Nov--Asian Banker

Singapore, November 26th 2013 - DBS Bank today announced that Nicole Wong has been named the Regional Head of Supply Chain Financing for transaction banking. In this role, she will be instrumental in commercialising and building up DBS’ portfolio of supply chain financing solutions, developing product scalability and a multi-bank model. She will also work towards enhancing DBS’ end-to-end suite of open account working capital solutions.

Wong joins DBS from Deutsche Bank, where she was Asia Business Head, Financial Supply Chain. During her tenure, she spearheaded the team that oversaw clients’ supply chain financing needs across the region, winning and delivering a sizeable number of large supply chain finance deals in Asia. Prior to that, she was vital to the development of the supply chain finance business in Asia for JP Morgan, where she achieved significant revenue growth over three years. Before joining banking, Wong also spent close to 15 years with multinational corporates like SGS and BP Singapore, where she built up an in-depth understanding of the mechanics of trade finance and trade-related corporate strategy.

“I am thrilled that Nicole is joining DBS’ Global Transaction Services team. She is a consummate trade finance professional and brings with her a wealth of knowledge and experience, which I am certain will boost our business growth ambitions”, said Vijay Vashist, Managing Director, Global Transaction Services, DBS Bank. “Nicole has delivered excellent results at every stage in her career and I hope to work with her to continue the spectacular growth trajectory the GTS business has achieved so far.”

In 2010, DBS identified Global Transaction Services (GTS) as one of its nine strategic priorities. Since then, the GTS business has achieved sterling results across Asia. The business has enjoyed three consecutive years of growth, with GTS income rising 31% to SGD 1.41 billion in 2012. Last year, trade finance income also rose 37% to cross SGD 1 billion for the first time from strong asset growth.

Over the last two years, DBS’ GTS team has received a plethora of industry accolades from leading trade publications. These include Best Transaction Bank for Emerging Corporates in Asia-Pacific, Most Innovative Transaction in Asia-Pacific, Best Asian International Transaction Bank, Best Trade Finance Services in Asia, Best Bank in Working Capital and Trade Finance in Southeast Asia, as well as Best Trade Finance Bank in Singapore and India.

--www.theasianbanker.com (November 29 2013)--

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