Deutsche BankÆs ongoing expansion of its global transaction banking (GTB) division has taken another positive turn, with the firm announcing the appointment of Wang Tao as head of trade finance for China.

Based at DeutscheÆs Shanghai offices, Tao will be directly responsible for local trade sales and the expansion of Deutsche BankÆs product offering in China, within the GTB division. The appointment comes as China increasingly moves to the forefront of global trade.

Upon arriving at Deutsche, Tao will report directly to Roger Packham, the bank's regional head of trade finance, Asia-Pacific.

The hire also comes as the latest addition to the trade side of GTB, with the firm increasing the head count as its business expands regionally. In March, the firm brought in Low Yang Sun from HSBC as its new head of trade finance and cash management for corporates for Singapore. Nathchanya Davivongse was also recently appointed as head of trade finance and cash management for Thailand.

Tao joins Deutsche from HSBC where his most recent role was head of forfeiting for China. In this position, he was responsible for delivering both structured financing and forfeiting solutions within the China market. His experience also extends to the corporate sector in both China and Thailand.