Orient Magazine Issue 72 - June 2019 | Page 42

Orient - The Official Magazine of the British Chamber of Commerce Singapore - Issue 72 June 2019

You joined the bank originally in late 2017 to head the Asia Global Transaction Banking business before taking over as Asia CEO and Singapore Country Head in late 2018. In recent years the wider financial sector has been managing a long period of uncertainty as the negotiations continue for the UK’s exit from the European Union. How has this impacted the bank to date and has there been any direct impact or change of strategy resulting for the Asia business?

Lloyds Bank’s core income is from the UK franchise, therefore our own business is not expected to be drastically impacted. As a result, we are confident that we can weather any short-term impacts of Brexit but we remain watchful for our clients, especially those small and medium sized businesses who rely on the movement of goods between the UK and Europe. We are prepared to help them in any way we can, illustrated by our lending commitment to UK businesses.

There is likely to be little direct impact to our business in Asia; if anything, it may be a positive result as British businesses begin to look at markets beyond Europe and this positions our operations in Singapore well to support those clients.

Lloyds Bank has a strong history of helping Britain prosper with recent examples such as the announcement in March of over £9 million committed to SME apprenticeships by 2022, and in January the pledge to lend £18 billion of gross lending to UK businesses this year. How does this company mission translate to supporting British businesses looking to expand into Singapore or the ASEAN region?

We have a strategy in Asia that is aligned with our values of Helping Britain Prosper, which we do in a few different ways. Firstly, a significant number of our large multinational clients in the UK have operations and subsidiaries in Asia and we aim to serve their Asian needs. Secondly, we manage and commence head office relationships with Large Asian clients who have a meaningful presence in the UK or looking to expand into the UK. And lastly, we actively assist and finance Asian institutional investors looking to acquire assets in the UK – either commercial real estate related or acquiring businesses in the UK. It is important for us to stay focused in this two-way flow of helping Britain to prosper.

There is an active interest in Asia for investment prospects in the UK, particularly for those with a 5-7 year, and beyond, horizon view of their investments and business plans.

To support businesses keen to export, Lloyds Bank has established the International Trade Portal as an Official Partner of the Department for International Trade (DIT), helping companies to expand their knowledge on suitable markets, compliance, and costs. How will the Portal deliver on your commitment to support 25,000 new exporters by 2020?

The Portal sits at the core of our mission for Helping Britain Prosper, particularly for smaller businesses and first-time exporters, and we were one of the earliest banks to partner with DIT to establish this form of advisory tool. In our discussions with these small and medium sized businesses we realised that when they are looking at a market for the first time, getting finance for the export is not the difficult part, the greater barrier is access to relevant market information. For example, are there trade fairs coming up that they should attend? What are the key regulations, sanctions and issues to be aware of for their products or services? An easy to access tool, such as this, provides value for our clients, and is customised for their trading needs, which we can then support with roadshows around the UK to spread awareness.

Once the clients feel confident that they have enough knowledge, we can then assist with specific products and connect them with DIT and subsequently the British Chamber of Commerce in the relevant market.

You have spent over 20 years in the banking sector working for various international banks. How has the industry transformed over this time and what challenges, other than the UK/EU relationship, do you foresee in the near future that should be addressed today?