Mashreq appoints co-heads for its Global Transaction Banking Team

By Leandra Monteiro

Mashreq Bank, one of the leading financial institutions in the UAE, has appointed Wisam Mahmood and Victor Penna – as the new Co-Heads of Mashreq’s Global Transaction Banking (GTB) team.

The appointments will drive the bank’s strategic objective of enhancing its range of GTB solutions for corporate and institutional customers, ranging from cash and corporate liquidity management to trade, commodities and supply chain financing.

In his role, Wisam will be responsible for driving the digital transformation mandate of the Global Transaction Banking (GTB) business, including overseeing, and implementing initiatives across all GTB business lines, operations, IT and functional areas.

Wisam brings more than 25 years of global banking and financial technology experience to Mashreq, including a wealth of business, banking and products management and experience in digital and business transformation. He has worked in different capacities including as an advisor for banking, investment and consultancy firms. Previously, Wisam was the Global Head of Transaction Banking at Finastra, where he oversaw product management, strategy, and developed a market-leading product portfolio.

Victor’s mandate will include implementing, developing, and driving the global transaction banking (GTB) strategy to grow Mashreq’s presence in the Middle East and global markets. He will also play a leading role in transforming the GTB business by developing unique propositions tailored to meet the requirements for our clients in each of the bank’s markets.

Victor brings more than 35 of years’ experience in finance, banking and consulting in various parts of the world. Prior to joining Mashreq, Victor held senior roles in the global transaction banking business at Standard Chartered, covering a range of areas including treasury advisory, digital solutions and corporate sales for Cash and Trade products across 50+ countries in the Americas, Europe, Asia, Middle East and Africa.

Most recently he was the Regional Cash Head for Europe and Americas and also responsible for building a new domestic cash platform in Europe. Before Standard Chartered, Victor held various regional transaction banking leadership roles at JP Morgan in Asia.

Speaking about the appointments, Joel Van Dusen, the Group Head of Corporate Banking and Investment Group at Mashreq Bank said, “Wisam and Victor both bring significant leadership experience in key areas that are vital to Mashreq’s future operations and strategy. We are excited to work with them to enhance the banking experience for our customers and strengthen Mashreq’s competitiveness as one of the UAE’s leading financial institutions.”

Tarek El Nahas, the Group Head of International Banking at Mashreq, said, “Digital technology has significantly transformed banking requirements, especially in the way that corporates trade, manage their working capital and finance supply chains. As the business landscape becomes more complex to navigate, we will continue to invest in fundamental digital platforms that provide our customers with customized as well as value-added solutions globally.”