Cash management: The search for top talent

There have been plenty of senior personnel changes in the transaction banking business in recent years, with Bank of America Merrill Lynch perhaps the most active hirer and Citi perhaps the most frequently targeted bank (Paul Simpson, BAML’s head of global transaction services; Carole Berndt, head of EMEA global treasury services in London; and Ivo Distelbrink, head of Asia Pacific global treasury services in Hong Kong, are all ex-Citi).