J.P. Morgan has made a series of new senior appointments to strengthen its global trade team led by global trade executive Daniel Cotti, who joined the bank in August last year. J.P. Morgan says it has also added almost 100 trade and supply chain professionals to its international team.
Pravini Advani has been appointed managing director and global trade executive for Asia and will lead J.P. Morgan's global trade team in the region. Advani was previously reported by sources to have joined J.P. Morgan from the Royal Bank of Scotland (RBS), where he worked with Cotti, in April but the appointment was not confirmed.
Andrew Betts has been appointed to the newly created position of managing director and global head of supply chain. He will be responsible for delivering modular integrated solutions to address financing and regulatory needs of supply chain clients. Both Advani and Betts will report to Cotti.
Another newly created China head of trade position was filled by Kao Fang Ming who joined J.P. Morgan from HSBC in China where he was the China head for global trade sales, trade and supply chain. He will be working together with J.P. Morgan's global corporate bank and will be responsible for leading the growth of the bank's trade business in China. Kao will report to Advani and to Lisa Robins, the country treasury and securities services executive for China.
Prashant Pillai will lead J.P. Morgan's trade business in India in his new position as trade head for India and South Asia. He will report locally to Rajiv Jainm J.P. Morgan's treasury services head for India and South Asia and globally to Advani.
"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," said Cotti in a statement. "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 structures trade finance businesses."
"This enhanced product strategy will leverage our US commercial bank franchise, participate in the firm's global corporate bank expansion and build stronger trade partnerships with financial institutions around the world," Cotti added.
Other appointments include David Conroy as regional trade executive for North America and global trade sales head and Andrea Leonel as regional trade sales and advisory head for Latin America. J.P. Morgan appointed Ricky Kaura as a new treasury services head in Asia last month.