HSBC appoints Luiz Simione as global head of forfaiting & risk distribution for global trade and receivables finance

Luiz Simione has been appointed Global Head of Forfaiting & Risk Distribution for Global Trade and Receivables Finance (GTRF), HSBC, with effect from 1st September 2013.

In this role, Luiz will focus on building the Forfaiting and Risk Distribution business in Europe, Middle East, North and Latin America, as well as strengthening HSBC’s Asian business.

Commenting on the announcement, James Emmett, Global Head of GTRF, said: “I am delighted to welcome Luiz into his new role. Our Forfaiting business has been very successful, a position Luiz and I want to build on by helping our customers to deliver business growth.”

Luiz moves from his role as GTRF's Global Head of Business Development, where he has successfully led several Sales Transformation Projects over the last two years. During his fifteen years at HSBC, Luiz has worked in Corporate, Commercial and Transactional Banking groups in Asia and Latin America, where he was Head of Trade and Receivables Finance.

Luiz will be based in London and report to James Emmett. He replaces John Ting, who is retiring from HSBC.

Commenting on John Ting’s retirement, James said: “In 1984 John was tasked with developing HSBC’s Asian Forfaiting business. Since then, his leadership has created a highly successful Forfaiting businesses globally. I'd like to take this opportunity to thank John for his work, which has been instrumental in strengthening HSBC’s position as the leading international trade bank.”

HSBC is the world’s largest trade finance bank, conducting 10% of bank-financed trade in the first half of 2012. In the full year 2012, HSBC reported annual GTRF revenues of US$3.5bn.