To better address increasing demand for trade finance and supply chain management solutions, New York-based J.P. Morgan Treasury Services announced several moves to strengthen the organizational structure of its Global Trade practice. Under the leadership of Global Trade Executive Daniel Cotti, the bank has hired several new senior managers for key positions and added nearly 100 trade and supply chain professionals to the firm's international team. The new structure introduces Centers of Excellence for all trade products in every region of the world; regional Trade Advisory teams; and Solution Delivery teams enabling Trade sales specialists to devote more time to clients and internal sales partners.
“J.P. Morgan is positioning itself for unprecedented growth in its Global Trade business and is committed to being one of the world's leading Trade banks,” Cotti said in a press release. “By adding key personnel and redesigning our business to more quickly meet clients' needs, we aim to increase our traditional trade market share and expand our supply chain management and structured trade finance businesses. This enhanced product strategy will leverage our U.S. Commercial Bank franchise, participate in the firm’s Global Corporate Bank expansion, and build stronger trade partnerships with financial institutions around the world.”
Among the new senior management positions reporting to Cotti are the following appointments:
Pravin Advani, Managing Director, Global Trade Executive for Asia, who will lead the Global Trade team in Asia. His track record includes trade product management, sales, client and risk management positions at ABN AMRO/RBS and Citigroup.
Andrew Betts, Managing Director, Global Head of Supply Chain. In this new Global Trade position, Betts and his global team will deliver what the bank describes as a market-leading proposition of modular, integrated solutions to address clients’ financing and regulatory needs across the entire supply chain. Betts' remit includes the leadership of J.P. Morgan’s new Global Supply Chain organization, which incorporates the existing Logistics practice globally. He previously held senior management positions at Deutsche Post/DHL, ABN AMRO and RBS.
David Conroy, Regional Trade Executive for North America and Global Trade Sales Head. Conroy joins from Deutsche Bank, where he was Americas Head of Trade Finance, and Head of Cash Management for Corporates, and led the franchise expansion.
Andrea Leonel, Regional Trade Sales and Advisory Head, Latin America. Based in Sao Paulo, Leonel is responsible for Trade Sales and Advisory for the LatAm markets. Previously at Deutsche Bank S.A. - Banco Alemao, she was Head of Trade Finance and interim Head of Cash Management Corporates with particular exposure to Brazil and South America.
Kao Fang Ming, Trade Head for China. Ming assumes this newly created position with responsibility for partnering with the Global Corporate Bank to lead Global Trade's business and growth in this important market. Previously she was China Head for Global Trade Sales, Trade, and Supply Chain at HSBC in China and worked at Standard Chartered Bank in transaction banking.
Prashant Pillai, Trade Head for India and South Asia. As part of J.P. Morgan’s Global Corporate Bank rollout and increased business focus on its franchise in India, Pillai will lead trade business in India. He previously worked for ICICI Bank and most recently for ABN AMRO/RBS India where his responsibilities included the initiation and structuring of cross border and domestic trade deals involving trade finance and end-to-end credit structures.
J.P. Morgan’s new Global Trade management team also is comprised of Jeremy Shaw, Regional Executive for EMEA; Mike McKenzie, Regional Treasury and Securities Services Executive for Latin America; and Michael Quinn, Global Head of Traditional Trade. Cort Jacobsen has joined as Global Product Delivery Head.