ANZ has announced a number of senior appointments in its RMB banking and trading teams, which the bank said will support growing volumes of RMB denominated cross-border financing.
Lucy Chen has been hired as global head of RMB transaction banking, a new role based in Shanghai. She will oversee the embedding of RMB within ANZ’s transaction banking unit and will report to Philippe Jaccard, global co-head of transaction banking products. She was previously head of global transaction banking at OCBC in China.
Patrick Wu has been promoted internally to become deputy head of global markets China and head of RMB trading. He will support the build out of ANZ’s global markets offering in China, as well as strengthen the bank’s global RMB trading. He will continue to be based in Shanghai and will report jointly to Dennis Wong, global head of RMB and Sam Phoen, head of global markets China.
Kenneth Lau has been named as head of offshore RMB trading, based in Hong Kong. He will build ANZ’s business across FX and rates and report jointly to Dennis Wong and Patrick Wu. He previously worked at Standard Chartered in Hong Kong, where he ran the HK$ franchise and built the bank’s CNH platform.
Xiaoguang Huang, ANZ’s CEO for China, said that the hires were intended to support the development of its global RMB offering plus the bank’s aim to be the leading bank for RMB in Australia and New Zealand.