Citigroup's Distelbrink gets expanded cash and trade role

Citigroup amalgamates cash and trade sales in a single role.
CitigroupÆs Global Transaction Services division has announced that it has adopted an integrated sales approach to cash management and trade finance for corporate and financial institutional clients in Asia.

To facilitate this new sales approach, Ivo Distelbrink is to take on a new and expanded role as regional cash and trade sales head as well as regional head of correspondent banking. Based in Hong Kong, he oversees cash management and trade sales consultants across 18 countries as well as a team of regional sales consultants covering pan-Asian solutions.

Citi says the change in approach had come as a result of an evolution in the way its customers are thinking about their business.

ôSupply chain management is rapidly causing a convergence in the buying decisions of cash and trade solutions. Companies are seeking working capital and supply chain solutions that can be delivered in a highly automated and integrated fashion,ö the bank says in a press release.

Distelbrink has been regional head of cash sales in Hong Kong for just over a year. Prior to that, he was head of global transaction services in China from 2002 to 2005, based in Shanghai.
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