The Royal Bank of Scotland (RBS) has hired Deutsche Bank’s Manfred Schmoelz to head its global network banking business in Asia-Pacific. He will officially join the bank after September 7 and is the replacement for Peter Leyssius who will leave the bank to return to Europe. Schmoelz’s appointment is the second this year for RBS’s global network banking business. Jonathan Jiang joined RBS from Bank of America Merrill Lynch as its new China head of global network banking in April this year.
Schmoelz has 15 years of corporate banking experience in Asia and will relocate to Singapore from Thailand where he was chief country officer for Deutsche Bank, responsible for the German bank’s local business lines and relationships. He will report to Paul Mcdonagh, head of global network banking; Matthew Kirby, Asia-Pacific head of global banking and global head of corporate finance; and Alan Goodyear, Asia-Pacific head of global transaction services.
“Manfred inherits a strong business covering all the major Asian markets and will focus on further growth through his experience with the major regional treasury centres and developing the local inbound business of RBS’s global client base across cash management, trade and risk management,” said Mcdonagh. “The global network banking business in Asia, as well as being an important part of our global footprint, plays a critical inter-regional role for RBS serving the needs of our major Asian clients locally where they interlink with the investment bank.”
The two recent senior hires are part of RBS’s plans to refresh and continue investing in its global network banking franchise. McDonagh internally transferred to his new global position from the investment banking arm in early June this year.
RBS’s global network banking franchise provides coverage for the subsidiaries of the bank’s multinational corporate (MNC) clients. Currently the business serves more than 4,000 MNC subsidiaries in Asia and offers cash, trade and supply chain and merchant acquiring products and services.