Tag: philips

Intra-group cross-border transactions are netted monthly into Renminbi through netting settlement centres, across nine mainland entities. The solution, via HSBC, unlocks working capital, and is exposed to the valuation of the under pressure Rmb.

HSBC has lured former Philips CFO Bart Ras away from Citi to be its new global head of business development for global trade and receivables finance (GTRF).