DBS Bank has named Nicole Wong regional head of supply chain financing for transaction banking. In this role, she will be instrumental in commercializing and building up its portfolio of supply chain financing solutions, developing product scalability and a multi-bank model. She will also work towards enhancing DBS’ open account working capital solutions.

 

Wong joins DBS from Deutsche Bank, where she was Asia business head, financial supply chain. During her tenure, she spearheaded the team that oversaw clients’ supply chain financing needs across the region, winning and delivering a sizeable number of large supply chain finance deals in Asia. Prior to that, she was vital to the development of the supply chain finance business in Asia for J.P. Morgan, where she achieved significant revenue growth over three years. Before joining banking, Wong also spent close to 15 years with multinational corporates like SGS and BP Singapore, where she built up an in-depth understanding of the mechanics of trade finance and trade-related corporate strategy.

 

In 2010, DBS identified global transaction services (GTS) as one of its nine strategic priorities. Since then, this has achieved sterling results across Asia. The business has enjoyed three consecutive years of growth, with GTS income rising 31% to S$1.41 billion in 2012. Last year, trade finance income also rose 37% to cross S$1 billion for the first time from strong asset growth.