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IFG’s industry report shows bright future for factoring
IFG’s industry report shows bright future for factoring
Jonathan Bell
23 June 2014

International Factors Group (IFG) has released its annual global industry activity report (GIAR).

Raiffeisen Factoring secures loan for Croatia through the EBRD
Raiffeisen Factoring secures loan for Croatia through the EBRD
Hesham Zakai
20 June 2014

Raiffeisen Factoring is to receive a €20 million ($27.2 million) loan from the European Bank for Reconstruction and Development (EBRD), which the company will use to provide financing in the form of factoring to small and medium-sized enterprises (SMEs) and corporate clients in Croatia, including in the less-developed regions of the country.

ICC Trade Register Report 2014 provides robust data to benefit global trade
ICC Trade Register Report 2014 provides robust data to benefit global trade
Jonathan Bell
19 June 2014

Today, the International Chamber of Commerce (ICC) released its Trade Register Report 2014. The empirical evidence from the report points to the fact that trade and export finance is a low risk bank financing technique – further supporting ICC’s advocacy of trade finance as a strong contribution to economic recovery and growth.

UKEF adds support structure for RMB with HSBC agreement
UKEF adds support structure for RMB with HSBC agreement
Jonathan Bell
18 June 2014

UK Export Finance (UKEF) has added the offshore renminbi (RMB) to its list of supported currencies as it looks to structure its first renminbi supported deal.

ECA 2014 - Interview with: Dmitry Minaev,Managing Director, International and Trade Finance, Alfa-Bank
ECA 2014 - Interview with: Dmitry Minaev,Managing Director, International and Trade Finance, Alfa-Bank
Hesham Zakaii
18 June 2014

TXF talks to Dmitry Minaev, Managing Director, International and Trade Finance, Alfa-Bank

Michala Marcussen, Chief Economist, Societe Generale : Michala Marcussen The Global Economy in 2014
Michala Marcussen, Chief Economist, Societe Generale : Michala Marcussen The Global Economy in 2014
Hesham Zakaii
18 June 2014

ECA 2014 - Interview with: Michala Marcussen, Chief Economist, Societe Generale

ECA 2014 - Interview with: Paul Richards, Global Head of Structured Export Finance, ANZ
ECA 2014 - Interview with: Paul Richards, Global Head of Structured Export Finance, ANZ
Hesham Zakaii
17 June 2014

ECA 2014 - Interview with: Paul Richards, Global Head of Structured Export Finance, ANZ

Lorenz Jorgensen, Head of Syndications, EBRD: Global Loans: The Credit Line Jam?
Lorenz Jorgensen, Head of Syndications, EBRD: Global Loans: The Credit Line Jam?
Hesham Zakaii
17 June 2014

Lorenz Jorgensen, Head of Syndications, EBRD: Global Loans: The Credit Line Jam?

ECA 2014 - Interview with: Kah Chye Tan, Chair, ICC Banking Commission
ECA 2014 - Interview with: Kah Chye Tan, Chair, ICC Banking Commission
Hesham Zakaii
17 June 2014

ECA 2014 - Interview with: Kah Chye Tan, Chair, ICC Banking Commission

ECA 2014 - Interview with: Victor Eromosele, CEO, ME Consulting
ECA 2014 - Interview with: Victor Eromosele, CEO, ME Consulting
Hesham Zakaii
17 June 2014

ECA 2014 - Interview with: Victor Eromosele, CEO, ME Consulting

Afreximbank stresses need for more African factoring
Afreximbank stresses need for more African factoring
Hesham Zakai
16 June 2014

The African Export-Import Bank (Afreximbank) is pushing the need for more factoring across Africa, stressing that the lack of factoring services is hindering small-to medium-size enterprise (SME) participation in Africa’s value chain.

Research: economic benefits of relationship between West and CEE
Research: economic benefits of relationship between West and CEE
Rob Ruhl
12 June 2014

A new study for ING Commercial Banking by ING’s Economics Department provides conclusive evidence that the relationship between Western Europe and Central and Eastern Europe and Russia since 1995 has led to important economic benefits across the continent.

ECA 2014 - Interview with: Vasantha Srinivas, Deputy General Manager, ECGC and Irene Dsouza, Senior Manager, ECGC.
ECA 2014 - Interview with: Vasantha Srinivas, Deputy General Manager, ECGC and Irene Dsouza, Senior Manager, ECGC.
Hesham Zakaii
12 June 2014

ECA 2014 - Interview with: Vasantha Srinivas, Deputy General Manager, ECGC and Irene Dsouza, Senior Manager, ECGC.

ECA Finance industry survey 2014 - results
ECA Finance industry survey 2014 - results
Dan Sheriff
12 June 2014

TXF and ANZ conducted an anonymous industry survey at the ECA/DFI Finance Conference in Paris last week. Delegates were each given a handset and asked to give a response to a number of pressing questions, posed by ANZ global head of export finance, Paul Richards.

Paris exporters roundtable
Paris exporters roundtable
Katy Rose
10 June 2014

After the success of the first roundtable last November in Paris, the day before ECA/DFI Finance in 2014, Henri D’Ambrieres and Maelia Dufour hosted a second roundtable event at Fives Headquarters in Paris

Avolon to launch IPO in US
Avolon to launch IPO in US
Hesham Zakai
10 June 2014

International aircraft leasing company Avolon has filed documents to the US Securities and Exchange Commission (SEC) for a proposed initial public offering (IPO).

SG launches Surecomp’s allTRA trade finance system in Singapore
SG launches Surecomp’s allTRA trade finance system in Singapore
Jonathan Bell
10 June 2014

Société Générale Corporate & Investment Banking (SG CIB) has launched Surecomp’s allTRA multi-entity Java trade finance system in Singapore.

Mizuho Americas appoints regional heads
Mizuho Americas appoints regional heads
Jonathan Bell
9 June 2014

Mizuho Bank Americas has bolstered its trade offering with the appointment of regional heads within the global trade finance division (GTFD) of the bank.

HSBC veteran appointed head of GTRF
HSBC veteran appointed head of GTRF
Hesham Zakai
9 June 2014

HSBC veteran Stuart Tait has been selected to take over as head of the bank’s global trade and receivables finance (GTRF) division, replacing James Emmett. Emmett will take up the role of CEO Turkey.

Equinox Global launches Netherlands operations
Equinox Global launches Netherlands operations
Jonathan Bell
9 June 2014

Equinox Global, the Lloyd’s cover holder specialising in trade credit insurance, has opened an office in the Netherlands. The new office will be headed-up by Frank Masteling, who has just been appointed as head of Equinox Netherlands.

Allianz Specialty expands London underwriting team
Allianz Specialty expands London underwriting team
Hesham Zakai
9 June 2014

Allianz Global Corporate & Specialty (AGCS) has expanded its London team with the appointed of Hayden Baker as senior financial institutions (FI) underwriter, regional unit London.

Norton Rose expands trade finance team in Paris
Norton Rose expands trade finance team in Paris
Jonathan Bell
6 June 2014

International law firm Norton Rose Fulbright has expanded its Paris banking and finance practice with the hiring of Janet Butterworth, as a partner.

BNPP alleged sanctions violation means another public battering for trade finance
BNPP alleged sanctions violation means another public battering for trade finance
Dan Sheriff
2 June 2014

Trade finance took another battering in the mainstream press earlier this week. With the fallout of the Citi/Oceanografia fraud still rumbling on daily, attention has now turned to the trade finance department of French bank BNP Paribas (BNPP).

Market adoption of the BPO: what is really holding it back?
Market adoption of the BPO: what is really holding it back?
Frank-Oliver Wolf
30 May 2014

One year on from the introduction of the ICC Uniform Rules on Bank Payment Obligation (URBPO), market adoption of the trade finance instrument has been fairly slow. According to the latest statistics from financial messaging provider, SWIFT, 25 corporates are reported to be using the BPO and 56 banks are in the process of adopting it.

Berne Union appoints Preugschat as secretary general
Berne Union appoints Preugschat as secretary general
Hesham Zakai
29 May 2014

The Berne Union has appointed Kai Preugschat as its new secretary general, filling a gap at the head of the secretariat following Peter Jones’s retirement in November 2013.

ICC survey explores global export finance sector
ICC survey explores global export finance sector
Hesham Zakai
27 May 2014

Hesham Zakai analyses the results of the inaugural ICC export finance benchmarking survey.

Russia-Ukraine: trade hits a wall
Russia-Ukraine: trade hits a wall
Hesham Zakai
27 May 2014

Hesham Zakai assesses the impact of the Russia-Ukraine political problems on trade.

Deutsche appoints CCO and head of GTB for Vietnam
Deutsche appoints CCO and head of GTB for Vietnam
Jonathan Bell
26 May 2014

Deutsche Bank has appointed Jens Ruebbert as chief country officer (CCO) and head of global transaction banking (GTB), Deutsche Bank, Vietnam.

Advani replaces Conroy as JP Morgan global head of sales (GTLP)
Advani replaces Conroy as JP Morgan global head of sales (GTLP)
Hesham Zakai
23 May 2014

JP Morgan has appointed Pravin Advani as its new global head of sales for global trade and loan products, effective May 1. He replaces David Conroy in the role, who left the bank to take up a position with a not-for-profit organisation in the US.

Ecobank receives AfDB facility for African trade
Ecobank receives AfDB facility for African trade
Jonathan Bell
21 May 2014

Pan-African Ecobank has signed a $200 million loan from the African Development Bank (AfDB) to help bolster African trade flows.

Equinox Global expands London team
Equinox Global expands London team
Jonathan Bell
20 May 2014

Equinox Global, the Lloyd’s cover holder specialising in trade credit insurance, has appointed Vicki Harrison as finance director and Duncan Davies as portfolio account manager. Both will be based in the London office.

Commerzbank wins tenth consecutive EBRD award
Commerzbank wins tenth consecutive EBRD award
Hesham Zakai
19 May 2014

Commerzbank has claimed the prize for the most active confirming banking in the European Bank for Reconstruction and Development (EBRD) Trade Facilitation Programme (TFP) for 2013.

Sahara Energy recruits Trafigura head of finance
Sahara Energy recruits Trafigura head of finance
Hesham Zakai
19 May 2014

Singapore-headquartered Sahara Energy International, the trading arm of Sahara Group, has appointed former Trafigura head of finance Alexander Peters as its new chief financial officer.

Mars UK revises supplier payment terms
Mars UK revises supplier payment terms
Hesham Zakai
19 May 2014

Mars UK is changing its business payment terms, doubling the length of time it can take to pay suppliers to 120 days from 60 days.

Western banks launch FX cash management programmes in Shanghai FTZ
Western banks launch FX cash management programmes in Shanghai FTZ
Jonathan Bell
16 May 2014

Western banks continue to make inroads in the provision of cash management structures and solutions for their clients operating in the Shanghai Free Trade Zone (FTZ).

Citi fires 12 staff over Mexican unit fraud
Citi fires 12 staff over Mexican unit fraud
Hesham Zakai
15 May 2014

Citigroup has sacked 12 members of staff in relation to the suspected fraud at its Mexican banking unit that led the group to revise its 2013 income down by $235 million.

RBS launches RMB cross-border cash pooling
RBS launches RMB cross-border cash pooling
Jonathan Bell
13 May 2014

The Royal Bank of Scotland (RBS) has launched renminbi (RMB) cross-border cash pooling for multinational companies (MNCs) registered in the Shanghai Free Trade Zone (FTZ). The move will enable these companies to integrate their China onshore RMB cash flow with their regional and/or global cash pools.

Allianz Global appoints head of financial institutions in London
Allianz Global appoints head of financial institutions in London
Jonathan Bell
13 May 2014

the role of head of financial institutions (FI) regional unit London. Her responsibilities will be to, drive the FI portfolio and work with new and existing clients. Her

FIMBank appoints head of trade finance
FIMBank appoints head of trade finance
Jonathan Bell
13 May 2014

Malta-headquartered FIMBank has appointed Maarten van Alkemade as head of its trade finance department. A Dutch national, van Alkemade joins FIMBank from Coalogic, where he worked as a consultant for banks

ABN appoints Chang as Asia head of commodities
ABN appoints Chang as Asia head of commodities
Jonathan Bell
8 May 2014

ABN AMRO has promoted Jacqueline Chang to the newly created role regional head of commodities Asia, as part of an expansion of the bank’s global commodities activities within its energy, commodities and transportation (ECT) business.

Equinox Global becomes Lloyd’s coverholder in the US
Equinox Global becomes Lloyd’s coverholder in the US
Jonathan Bell
8 May 2014

Equinox Global, the Lloyd’s coverholder specialising in trade credit insurance, has moved into a new office in New York and has been approved as Lloyd’s coverholder in the US. The office is headed by Antje Seiffert-Murphy who has been with Equinox in the US since 2011.

DEG finances German-Kenyan horticultural expansion
DEG finances German-Kenyan horticultural expansion
Jonathan Bell
8 May 2014

The German development bank, Deutsche Investitions- und Entwicklungsgesellschaft (DEG) is providing a loan of €3 million ($4.1 million) to the German horticulture company Selecta Klemm for the modernisation of its greenhouses in Kenya.

Promotion for Mackay at StanChart Singapore
Promotion for Mackay at StanChart Singapore
Jonathan Bell
7 May 2014

Scobie Mackay has been promoted to the position of head, commodity traders and agribusiness, trade finance at Standard Chartered (StanChart)in Singapore.

Bolero appoints new CEO
Bolero appoints new CEO
Jonathan Bell
7 May 2014

Trade documentation software specialist Bolero International has appointed Ian Kerr as its new chief operating officer (CEO).

AfDB seals risk agreement pact with UBAF
AfDB seals risk agreement pact with UBAF
Jonathan Bell
7 May 2014

The African Development Bank (AfDB) has signed an unfunded $50 million risk participation agreement (RPA) with the Union de Banques Arabes et Françaises (UBAF), to support trade origination capacities of African issuing banks.

AgFirst selects SunGard to help lending operations
AgFirst selects SunGard to help lending operations
Jonathan Bell
6 May 2014

AgFirst Farm Credit Bank, a US-based provider of funding and financial services to agricultural credit associations, has selected SunGard’s Ambit Commercial Lender to help modernise its lending operations.

Markel makes senior appointment in trade credit division
Markel makes senior appointment in trade credit division
Jonathan Bell
6 May 2014

Specialist insurer, Markel International, has appointed Simon Philpin as underwriter and senior risk analyst in its trade credit division.

Finacity signs two ABL facilities
Finacity signs two ABL facilities
Hesham Zakai
2 May 2014

Accounts receivables securitisation specialist Finacity has closed two loan facilities for US-based affiliates of international corporate clients. Both the facilities are asset-based loans (ABLs) and amount to $20 million in total.

Berne Union 80 foreword by Jonathan Bell
Berne Union 80 foreword by Jonathan Bell
Jonathan Bell
1 May 2014

This is a particularly big year for the Berne Union, which has now been supporting exporters, borrowers, investors and the overall export financing sector for the past 80 years. It is also a celebratory year, as few organisations have such an excellent and consistent track-record of performance in global trade. In the case of the Berne Union

Interview with Berne Union president Dan Riordan
Interview with Berne Union president Dan Riordan
Daniel Riordan
1 May 2014

Jonathan Bell, editor-in-chief at TXF, talks with Dan Riordan, president of the Berne Union, about taking the organisation forward in its 80th year.