Commonwealth Bank of Australia’s (CBA) Institutional Banking & Markets (IB&M) division has appointed four new managing directors to the leadership team of its recently created Commodities, Trade and Carbon (CTC) business.

The new appointments will report to Executive General Manager CTC Alex Toone, as CBA looks to expand its capabilities for clients across commodities finance and trading, trade finance and carbon markets.

“Our new CTC business enhances our specialisation in these areas and help us deliver even greater value to our clients by driving our capabilities to the next level,” said Andrew Hinchliff, Group Executive, IB&M at CBA. “We are delighted to have secured an exceptional range of talent and expertise for the CTC leadership team.”

Martyn Whitehead has joined CBA as Managing Director, Commodities, leading the bank’s strategy for its commodities business with a focus on Australia and New Zealand. Mr Whitehead previously served as Global Co-Head of Commodities Sales at Standard Chartered Bank in London.

Joe Arena has joined CBA as Managing Director, Trade Finance, to lead the strategy across the institutional bank’s trade finance, working capital and supply chain finance business. Mr Arena brings over 20 years of experience in leadership roles in trade and working capital across Asia Pacific and most recently served as Country Head of Global Trade and Receivables Finance, Australia at HSBC.

Bradley Campbell has been appointed Managing Director, Commodities Trading and will join CBA from the Australian Securities Exchange (ASX) where he served as Acting Co-Head Group Executive, Markets and General Manager, Equities and Commodities. He was previously Head of Commodities Trading in Europe at Standard Chartered.

Dr Yasmina Elshafei completes the appointment of the leadership team for the new CTC business and will join CBA as Managing Director, Global Carbon, with responsibility for the bank’s carbon markets business. She was most recently an Executive Director at climate change advisory and investment firm Pollination Group, and prior to that was a Senior Vice President at Macquarie Capital supporting large-scale infrastructure and renewable energy projects internationally.

“Our clients are navigating a volatile commodity price environment, challenging supply chains and the global transition to a low carbon economy – it’s more important than ever that we have the right skills, capabilities and people in place to provide the best level of support. These appointments reflect the significant growth agenda we have in CTC and the prioritisation of our key focus areas under our revised strategy,” said Alex Toone, CBA’s EGM of CTC.

CTC launched in February this year as part of a focus on embedding climate and digital capabilities in IB&M, ensuring CBA is the domestic partner of choice for risk management and financing in commodities, trade and carbon markets.