HSBC has appointed Sharon Tan as senior vice-president for structured trade finance, based in Singapore.

In what is a new role, Tan will be responsible for the further development of the structured trade finance business, deals generation and executing strategic initiatives to grow the business in Singapore as well as in Asia.

Trade financiers are capitalising on business opportunities in the region as the government steps up efforts to promote Singapore as a wealth management and export hub.

"Structured trade finance is a key component of HSBC's trade and supply chain proposition and we see significant growth potential as the voracious appetite for commodities continues, liquidity contracts and regulatory risk increases," says Michael Lim, head of structured trade finance for the region at HSBC.

"HSBC as a strongly capitalised and liquid global bank is well positioned to support its customer base and we will be continuing to expand our structured trade finance resourcing and coverage over the coming 12-month period," he adds.

Tan joins HSBC from Standard Chartered Bank where she held a key sales position in its structured trade finance business for Southeast Asia.

A Standard Chartered spokesperson confirms the bank has found an internal replacement to take up Tan's former role, without giving details.