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Standard Chartered names new transaction banking head for Singapore

Standard Chartered Bank has selected Motasim Iqbal as the new head of transaction banking for Singapore.

In his new role, he will spearhead cash management, trade finance and securities services business for wholesale banking clients in the country.

Prior to accepting the current job, Motasim was serving as the bank’s regional head for transaction banking for the financial institution segment for the Middle East, North Africa and Pakistan region.

Motasim, who spent more than 15 years at the bank, will report to Sumit Aggarwal, regional head, transaction banking, southeast Asia, and to Patrick Lee, head of origination and client coverage, Singapore.

Having joined the bank in 1997, he worked in various positions in origination and client coverage and transaction banking.

He was promoted as the head of transaction banking for Pakistan in 2003 and in 2006 he relocated to Dubai to oversee the financial institutions segment for transaction banking across MENA and Pakistan.

Managing more than 1,700 offices in 68 markets, and employing over 89,000 staff, the group provides an array of financial services to its customers across the globe.

For the year ended on 31 December 2012, the bank reported that its profit before tax (PBT) rose by 1% to $6.87bn against $6.77bn during the comparable period last fiscal.