At a time of uncertainty, political events dominating the news agenda and businesses contending with an ever-growing burden of regulation, HSBC UK is committing resources to helping customers navigate through a challenging period.
Area director for Hampshire and Dorset corporate banking Anthony Reed explained: “Making the right decisions on business borrowing, the efficient use of cash reserves and how to facilitate future planning can be an intensive and daunting prospect. I am delighted that with the recent investment we have made in people into the team locally, we have positioned ourselves to provide the best possible solutions to local businesses.”
The Hampshire and Dorset corporate team has recently recruited three new relationship directors into senior roles to enhance the level of support to the local economy. Sharon Murphy, Mike Schulkins and Catherine Painter have joined the corporate team, bringing with them a wealth of experience from across the market and increasing the relationship director team to 10 covering the Solent area.
Murphy is a qualified accountant having trained with Deloitte in Ireland and Bermuda and joined the team after 12 years in banking. Schulkins recently moved over from HSBC’s asset finance team following a 15-year corporate banking career, which has included roles at two other banks, specialising in providing complex funding solutions to businesses across London and the south. Painter was recently promoted to relationship director having worked in the corporate and offshore banking sectors for 19 years.
Reed added: “HSBC UK has brought in talent that complements our existing team and has invested in key areas to ensure we provide the right level of support and solutions to our customers.”
In addition to these exciting new hires and as part of HSBC’s ongoing commitment to the Solent region, the Hampshire and Dorset corporate team are now able to draw on the resources of their newly-formed and regionally-based debt finance team. Debt finance director Melissa Leung and associate director Charlotte Hatchard will work closely with the local corporate relationship managers to support in structuring the larger and more complex transactions.
Leung has a 19-year corporate banking career at HSBC, with an extensive transactional and structuring background having previously focused on private equity-backed transactions. Hatchard, a qualified chartered accountant, joined the bank three years ago and has recently been promoted to this new role.
Highlighting HSBC UK’s ability to support local businesses is the recent refinance and provision of international working capital finance to Portsmouth-based CT Automotive Group.
CT is an automotive manufacturer and supplier of a core range of interior plastic components and value added parts such as vents and arm rests with operations in Sunderland, China, Turkey, Czech Republic and US. The business supplies into markets all over the globe and the HSBC team were able to provide structured working capital facilities to fund the group’s trade cycle from both the UK and with in-country solutions in the other territories that the business operates in. The Hampshire corporate banking team worked closely with Regional Debt Finance to ensure the transaction was structured and executed in a timely manner for the client.
David Wilkinson group finance director stated: “Having worked closely with our relationship team in the UK to structure the right finance for the business and its stakeholders, HSBC UK was then able to manage the legal process effectively, coordinating advisers from several jurisdictions, to ensure the transaction was completed and funds released within the tight timescale that we had set.”