HSBC appoints international corporates lead for Thailand
HSBC Thailand has appointed Alexander Malloch as Head of International Subsidiary Banking (ISB) in Thailand. Malloch's arrival will help HSBC provide greater banking coverage to international large corporates and mid-market enterprises looking to expand in Thailand.
Malloch is relocating from Hong Kong, having also worked in Australia and the UK, and brings to Thailand broad global experience across business development and business management. Malloch will report locally to Krisda Phatcharoen, Head of Commercial Banking in Thailand and regionally to Himanshu Sanwalka, Head of ISB for International Countries in Asia-Pacific.
Commenting on the new appointment, Himanshu Sanwalka said, "Alex and his team will help international corporates and their subsidiaries grow in the country as Thailand is undergoing its 4.0 economic transformation. Whether it's greenfield or brownfield investment, HSBC is well-equipped to support the development and expansion of international businesses in Thailand and in ASEAN."
Recently, the ISB team in Thailand helped provide a leading Chinese tire manufacturer which has shifted production to Thailand with working capital financing, cash management service, and FX markets solutions. The team also helped an operator of international schools that has campuses in Thailand implement an online collections channel for tuition fees.
HSBC fully supports the Thailand 4.0 initiative, which aims to shift the country from low-cost manufacturing towards higher-value added activities. Under Thailand 4.0 the Eastern Economic Corridor development plan aims to develop the provinces of Rayong, Chonburi, and Chachoengsao into a leading economic zone in ASEAN.
Krisda Phatcharoen added, "The development of EEC will bring plenty of opportunities to domestic and foreign firms operating in Thailand – from the construction, engineering and architecture of each particular project to long-term and downstream opportunities around sectors such as real estate, retail, and healthcare. HSBC can provide advisory service to consortiums bidding for projects, not to offer banking and financial services such as trade finance, working capital, supply chain, letters of guarantees and FX management."