Crown Agents Bank, the emerging markets-focused wholesale back which was acquired by Helios Investment Partners in August last year, has announced two senior appointments. Duarte Pedreira takes the role of Head of Trade Finance, while Colin Westlake takes the role of Sector Head of Commercial Banks.
Pedreira, an industry expert in trade finance, joins CAB from AIG’s credit team. During his career, he’s held senior structured trade, commodity and working capital roles at a number of institutions in the UK, South Africa and Angola, including Banif Bank, Caspian Sea Capital and Standard Bank.
“Trade finance is vital for financial inclusion,” said Richard Jones, CAB’s Group CEO in welcoming Pedreira to the company. “Yet mainstream banks are withdrawing from many emerging markets – creating a major opportunity for CAB. We want CAB to be the leading trade finance partner for entities in emerging markets and I believe Duarte is the ideal person to drive this ambitious project.”
Prior to joining CAB, Westlake had previously been at Standard Chartered Bank for more than 38 years. In his new role, he will lead the bank’s strategy to partner with local commercial banks across emerging markets to provide them access to global money centers. Based in London, the team offers access to institutional payments and cash management, trade finance and treasury services, and can make investments on behalf of clients.
“The fact that many major players are de-risking from emerging markets provides a major opportunity for CAB,” said Westlake. “It is an opportunity I intend to explore – helping make CAB the number-one choice for commercial banks in regions that are increasingly underserved by mainstream banks.”
Crown Agents Bank has over 180 years of experience as a leading wholesale bank, providing practical and consistent solutions across markets in both emerging and developed countries. It offers a full suite of trade and correspondent banking solutions and investment management services to financial institutions, governments, NGOs, and corporate and commercial enterprises.