Barclays Corporate is fast tracking the development of its Indian trade finance offering with the appointment of new Head of Trade and Working Capital, Tan Kah Chye*.
Kah Chye joins from Standard Chartered Bank in Singapore, where for the past six years he has held the position of Global Head of Trade Finance, driving a period of rapid and successful expansion of the bank’s trade function. More recently Kah Chye took responsibility for the bank’s global cash management operation in addition to his trade finance role.
Based in London, Kah Chye will work closely with Barclays Corporate in India to grow the bank’s share of trade finance which currently accounts for more than a quarter of the banking income in the country.
Commenting on his appointment, Tan Kah Chye, Head of Trade and Working Capital, Barclays Corporate, said: "As David Cameron, the British Prime Minister, said during his trade mission last year, India matters to the world because it is not only a rising power but, a responsible global power.
“India has significant trade ties with Europe, Middle East and Africa and is seeking to more than double bilateral trade with the UK to £24 billion alone over the next five years. Barclays Corporate is well placed to provide end-to-end trade financing and risk mitigation solutions to Indian corporates who are exporting to, or importing from these regions.”
Barclays Corporate’s decision to increase its support for trade finance in India comes as the country begins trade talks with African nations and continues negotiations for a free trade agreement with the EU.
Rajeev Chalisgaonkar, Director Corporate Banking at Barclays Corporate, said “Kah Chye’s appointment will provide an enormous fillip to our trade finance capabilities in India and will give us a real competitive edge.”
