Invoice and trade finance provider Bibby Financial Services (BFS) has appointed former Standard Chartered director Kenneth Tham as managing director for Singapore and Southeast Asia.
Before joining BFS, Tham spent nearly 17 years at Standard Chartered, including as a director and head of middle market, and as head of commercial clients in Singapore. He previously held Singapore-based roles at HSBC and OCBC Bank in a 25-year career in trade finance.
BFS, which provides trade, asset and working capital finance and chiefly targets SMEs, says Tham is tasked with supporting its so-called BFS 4.0 strategy, which aims to position the company as a major international provider of digital working capital solutions.
“As part of our BFS 4.0 strategy, Singapore and the wider Asian market presents significant growth opportunities for us,” says chief executive Jonathan Andrew.
“Coupled with the expertise and dedication of our team in Singapore, Kenneth’s appointment reaffirms our commitment to supporting SMEs in Asia with flexible, future-focused finance solutions.”
The announcement comes as UK-headquartered BFS celebrates 10 years since it started doing business in Singapore, where it says demand for financing among SMEs has grown substantially since the pandemic.
“In this increasingly challenging global environment, more than ever SMEs need cashflow and liquidity support to help them to overcome challenges and take advantage of growth opportunities,” Andrew says.
BFS announced in July last year that Q2 global turnover had increased by a third year-on-year, reaching £2.4bn, a finding attributed in part to the lifting of lockdown restrictions.
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