Standard Bank Group has appointed Olu Ajayi as Head of its newly formed Trade Finance unit.
Trade Finance is a new business unit formed as part of Standard Bankâ€™s effort to enhance its trade product offering to its clients, and is in line with the bankâ€™s strategy to develop the trade finance franchise across Africa .
Ajayi formerly Head, Structured Trade Finance at Stanbic IBTC Bank, joined the bank in March 2009 to set up the STF business and he has significant knowledge and understanding of funding trade businesses, especially in Africa .
He will continue to be based in Nigeria and will report directly to Andrew Mashanda, Head of Transactional Products and Services (TPS). In his new position Ajayi will develop, strengthen and expand Standard Bankâ€™s Trade Finance capabilities.
Mashanda said: â€œDeveloping our trade franchise capability and enhancing our trade product offering to our clients is a key focus for Standard Bank.