The Commonwealth Bank’s (CBA) institutional banking & markets (IB&M) division has appointed four managing directors to lead its commodities, trade and carbon (CTC) business.
In announcing the new appointments, the bank said that it is looking to expand its capabilities for clients across commodities finance and trading, trade finance and carbon markets.
“Our new CTC business enhances our specialisation in these areas and help us deliver even greater value to our clients by driving our capabilities to the next level,” said CBA group executive for institutional banking and markets, Andrew Hinchliff.
“We are delighted to have secured an exceptional range of talent and expertise for the CTC leadership team.”
Martyn Whitehead, who was previously global co-head of commodities sales at Standard Chartered Bank in London, has joined CBA in the role of managing director for commodities. He will lead the strategy for the bank’s commodities business with a focus on Australia and New Zealand.
Joe Arena has taken up the role of managing director in trade finance, to lead strategy across the institutional bank’s trade finance, working capital and supply chain finance business. He has more than 20 years of experience in leadership roles in trade and working capital across the Asia-Pacific region and was most recently country head of global trade and receivables finance, Australia at HSBC.
Additionally, Bradley Campbell has been named managing director, commodities trading, and will join CBA from the ASX, where he was acting co-head group executive, markets and general manager, equities and commodities. He previously served as head of commodities trading in Europe at Standard Chartered.
Finally, Dr Yasmina Elshafei will join CBA as a managing director for global carbon, with responsibility for its carbon markets business. She was most recently an executive director at climate change advisory and investment firm, Pollination Group, and was also formerly a senior vice president at Macquarie Capital, supporting large-scale infrastructure and renewable energy projects internationally.
All four of the new appointments will report to executive general manager CTC Alex Toone.
“Our clients are navigating a volatile commodity price environment, challenging supply chains and the global transition to a low carbon economy — it’s more important than ever that we have the right skills, capabilities and people in place to provide the best level of support,” Mr Toone said on the appointments.
“These appointments reflect the significant growth agenda we have in CTC and the prioritisation of our key focus areas under our revised strategy.”
Jon Bragg is a journalist for Momentum Media's Investor Daily, nestegg and ifa. He enjoys writing about a wide variety of financial topics and issues and exploring the many implications they have on all aspects of life.