Huntington Bank has launched an international corporate banking group and will open a London representative office later this year to support business development.
The move expands the US regional lender’s capabilities for foreign multinational companies and their US subsidiaries entering or growing in the US.
It signals a widening front in the competition for cross-border corporate banking relationships, a space traditionally dominated by the global universal banks.
For UK-based corporates with US operations, it adds another option alongside the usual roster of JPMorgan, Citi, HSBC and Bank of America.
The new group will offer lending, global trade, foreign exchange, cross-border payments and treasury solutions, focused on US subsidiaries and their global parent organisations.
Huntington framed the launch as a response to rising foreign direct investment into the US, with a growing number of foreign companies establishing or expanding US operations.
The group is led by Suneel Gill, who recently joined as senior managing director with more than 20 years of experience in international banking.
Huntington Bancshares is a $284 billion asset regional bank holding company headquartered in Columbus, Ohio.
The top 10 US commercial bank operates more than 1,400 branches across 21 states.
Gordon DeKuyper, senior managing director of corporate, specialty and government banking at Huntington, said: “Suneel brings deep experience working with international clients and a strong track record of building relationships across global organisations.”
“His expertise will be instrumental as we expand our capabilities and take a more coordinated approach to serving companies operating across borders.”
Scott Kleinman, president of Huntington Commercial Bank, added: “The launch of our international corporate banking group marks an important step in the continued growth of our commercial banking capabilities.”
“As more foreign companies invest in and expand across the US, we’re excited to support their ambitions by delivering the insights, connectivity and banking solutions they need to succeed.”