Trade finance company Traydstream, based in the U.K., has a new chief executive officer.
The company announced news on Friday (Aug. 31) that Sameer Sehgal, former head of Trade for Europe, Middle East and Africa (EMEA) at Citi Bank, is joining the FinTech to lead as its CEO.
“In Sameer, we have one of the leading figures in global trade finance; his appointment is invaluable to us in charting a course for the exciting future for our business,” said Co-Founder and Chief Operating Officer Uzair Bawany in a statement.
According to Traydstream, Sehgal is joining the company at a “crucial period” for the firm, as its commences its first trade finance programs with bank partners. The company also noted that it is a crucial time for the industry, with FinTech paying little attention to trade finance, despite the World Trade Organization (WTO) calculating that as much as 90 percent of the world’s trade depends on trade finance, Traydstream said.
The former head of Trade helped guide Citi Bank’s trade business across EMEA to be the largest trade bank in the region, Traydstream added, and led the bank to integrate new capabilities into its trade finance offerings, including supply chain finance and shipping.
“Sameer is a true industry expert,” said the company’s other Co-Founder and Global Sales Head, Achille D’Antoni, in another statement. “Uzair and I are delighted that he has joined us, and he genuinely shares in our vision to reshape trade finance. We are very excited with the next phase in our business as we move to pilot phase with leading banks, and I cannot think of a better person to have at our helm.”
“I am delighted to be joining the Traydstream team; digitization and automation in trade is long overdue, and Traydstream’s solution is refreshingly creative,” Sehgal said in his own statement. “The technical tools at hand today promise to redefine international trade and commerce. It’s a fascinating time to be in the industry and working on these game-changing innovations.”