Andrew Betts has joined HSBC's senior global trade and receivables finance (GTRF) team as regional head, UK & Continental Europe, replacing Steve Box who moves into the newly created role of global head of receivables finance (RF) with immediate effect.

Betts joins HSBC from J.P. Morgan's Corporate & Investment Bank where he was most recently global head of custody in investor services. He was previously global head of supply chain finance and logistics services at J.P. Morgan and prior to that the global head of supply chain and trade finance at the Royal Bank of Scotland and ABN AMRO. Earlier in his career, he worked for DHL.

Box will work closely with HSBC's regional teams, sales and products areas, he will provide expert advice to further develop RF propositions. He will also advise areas such as legal and risk, as HSBC continues to enhance the risk framework for this product area.

Box has been in commercial banking with HSBC for over 30 years. This new role capitalizes on his RF experience, developed as part of the team which built HSBC's receivables business, managing it through a period of significant growth.

Betts and Box will report to Stuart Tait, based in London. Both will sit on the GTRF executive committee. In addition, Betts will report regionally to Ian Stuart, head of UK CMB and co-head of CMB Europe and Tim Reid, co-head of CMB Europe.