Building on the similar successful blueprint that RBS established with the launch of their UK-based India Desk earlier this year, the China desk will offer expertise and guidance across the market, including regulatory insight and product support.
Scott Barton, Co-CEO of International Banking, said: "The launch of our China Desk creates a hub in London to help our clients in Europe in taking advantage of the growth opportunities in one of the world's most robust economies. It also opens up our global network of 36 countries to our Chinese clients. As China becomes the largest trade partner to the European Union (EU), we are pleased to be able to leverage our strong network to help our Chinese clients further expand their businesses into the EU."
Based in London, the China Desk will be led by Janet Ming. Ming, who was most recently head of Corporate Sales for RBS China based in Shanghai, will be relocated to London to take on the new role as Head of China Desk. She has more than fifteen year's experience in the region and has worked on both the corporate and banking side.
"Few Chinese banks have the network or capabilities to serve their clients who wish to expand internationally," says Ming. "Research tells us that Chinese corporates are more comfortable if there is dedicated coverage in their destination market."
RBS is deep rooted in China with a history spanning over a century. It has built a comprehensive banking platform and has achieved significant traction in this market. The Bank is a leading player in the offshore Renminbi (RMB) market. In 2011, the Bank ranked fourth by deal value in CNH bond issuance and has won a number of industry awards, including:
- Voted by The Economic Observer China Excellence Bank Awards in 2011 for Excellence in Offshore RMB Banking
- Recognised by CFO World "Most Reliable Banks in the Eyes of Chinese CFOs" for Best Trade Finance Award
- Won Best Foreign Bank on Cash Management from Treasury China Awards 2011
As the UK seeks to develop London as an offshore RMB trading hub for Europe, RBS's expertise in this area will add great value to its clients in Europe and China.
The launch of the China Desk coincides with RBS's partnership with UK Trade & Investment to host a series of Asia Task Force events across the UK. The events, held in early February, focused on business opportunities in 12 high-growth Asian markets – China, Hong Kong, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand and Vietnam. They offered practical, hands-on advice from country specialists and companies already succeeding in the region.