UniCredit beefs up transaction banking business with new Asia head

Kok-Keong Tay joins UniCredit from Deutsche Bank in a newly created position as head of global transaction banking Asia-Pacific.

UniCredit has announced the appointment of Kok-Keong Tay as its new head of global transaction banking Asia-Pacific, effective from July 12. Tay will be based in Hong Kong and report globally to Marco Bolgiani, global head of transaction banking and member of UniCredit’s management committee, and regionally to Samuel Poon, executive chairman of corporate and investment banking for Asia-Pacific.

In his new role, which is also a newly created position for the Italian bank, Tay will be responsible for leading the expansion of its commercial banking franchise in the region and extending its transaction banking footprint and product suite -- including cash management, cross-border trade finance, and structured trade and export products -- into new markets.

"The UniCredit Bank transaction banking business with its deep European coverage and unparalleled product depth is uniquely positioned to serve and grow with our global clients in Asia-Pacific, with its vibrant and fast-changing landscape and untapped opportunities,” said Tay. “I am very much looking forward to helping provide a comprehensive range of transaction banking products and services across key markets, complemented with superior implementation and excellent after-sales support."

Tay joined UniCredit from Deutsche Bank where he was managing director and regional head of product management, global transaction banking (GTB). He brings with him more than 25 years of experience in retail and commercial banking.

“I am very excited that KK is joining us. This is an important first step that signifies our serious intention of growing our commercial banking business in Asia-Pacific to complement our already formidable franchise in Europe,” said Bolgiani in a statement. “KK’s broad experience in GTB products and the diverse local Asian markets will be a big advantage to our growth strategy in the region.”

“This is a key appointment for UniCredit in the region and I am confident that KK’s experience and knowledge will allow us to quickly strengthen our transaction banking franchise and provide best-of-breed solutions especially to our European clients looking to expand their footprint in Asia-Pacific,” Samuel Poon added.

UniCredit is an international financial institution with strong roots in 22 European countries as well as representative offices in 27 other markets, with about 9,600 branches and approximately 162,000 employees.

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