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Video Interview: Daniel Riordan, CEO of Zurich Global Corporate North America
Video Interview: Daniel Riordan, CEO of Zurich Global Corporate North America
Jonathan Bell
15 October 2013

Daniel Riordan, CEO of Zurich Global Corporate North America is the first Berne Union president elected from the private market for thirty years. He talks about how private insurers have become increasingly involved in the export credit space, what risk models they have had to get used to, and the new capacity they can bring.

Zurich’s Daniel Riordan named Berne Union president
Zurich’s Daniel Riordan named Berne Union president
Dan Sheriff
15 October 2013

Daniel Riordan, CEO of Global Corporate, Zurich North America has been elected president of the Berne Union – the international association of export credit insurers. He is the first representative of a private insurer to be elected president in 30 years.

Video Interview: Rudolf Scholten, Co-Chairman at OeKB, the Austrian export credit agency
Video Interview: Rudolf Scholten, Co-Chairman at OeKB, the Austrian export credit agency
Jonathan Bell
15 October 2013

Rudolf Scholten, Co-Chairman at OeKB, the Austrian export credit agency, tells Joanthan Bell of TXF that he fears a level playing field amongst OECD and non-OECD based corporates may still be some way off.

CIT arranges acquisition finance
CIT arranges acquisition finance
Jonathan Bell
15 October 2013

CIT Capital Market, a leading provider of financing and advisory services to small businesses and middle market companies, has acted as lead arranger in a $110 million financing for fashion retailer Joe’s Jeans, to finance the acquisition of Hudson Clothing Holdings, a leading global designer and marketer of premium branded denim apparel.

EBRD provides funds to Garanti and Yapi Kredi for SMEs
EBRD provides funds to Garanti and Yapi Kredi for SMEs
Jonathan Bell
14 October 2013

The European Bank for Reconstruction and Development (EBRD) is providing funds to Garanti Bank and Yapi Kredi of Turkey to help small and medium-sized company (SME) lending within the country.

JB's weekly round-up - 14 October 2013
JB's weekly round-up - 14 October 2013
Jonathan Bell
14 October 2013

Key personnel from the export credit agency (ECA) and private insurance community were in attendance at the Berne Union AGM held in Vienna last week. TXF was kindly invited to film exclusive interviews with key individuals at the event.

StanChart arranges cross-border RMB loan for Nokia
StanChart arranges cross-border RMB loan for Nokia
Mayur Pande
11 October 2013

Standard Chartered Bank (StanChart) has successfully completed a RMB2.5 billion ($408.4 million) cross-border lending deal for the international mobile broadband corporation Nokia Siemens Networks in China (NSN China).

SG appoints head of payments and cash management
SG appoints head of payments and cash management
Dan Sheriff
11 October 2013

Société Générale (SG) has appointed Benoit Desserre as head of payments and cash management within the global transaction banking (GTB) division. He replaces Alain Grugé who has been appointed as a regional head of SG retail bank in France.

EBRD and IFC provide loans for Turkish agri-sector
EBRD and IFC provide loans for Turkish agri-sector
Mayur Pande
9 October 2013

The European Bank for Reconstruction and Development (EBRD) is to provide a €60 million ($81.6 million) loan to Turkey’s Sekerbank, as part of a programme to assist agribusiness and enterprises led by women.

Video Interview: Markus Wohlgeschaffen, Head of Global Trade Finance and Services, Unicredit
Video Interview: Markus Wohlgeschaffen, Head of Global Trade Finance and Services, Unicredit
Jonathan Bell
7 October 2013

Markus Wohlgeschaffen, Head of Global Trade Finance and Services at Unicredit talks BPO, technological innovation and multi-bank platforms with Jonathan Bell, Editor-in-Chief, TXF.

JB's weekly round-up - 7 October 2013
JB's weekly round-up - 7 October 2013
Jonathan Bell
7 October 2013

There appears to be plenty of personnel movements in the trade finance sector at the present time – some of these we are able to write about, while others are, shall we say, sensitive at the present time. The good thing about all this is that institutions are hiring – and the signs are that, at least in some sectors, the market is picking up.

PTA Bank gets cash injection from AfDB
PTA Bank gets cash injection from AfDB
Dan Sheriff
4 October 2013

The Eastern and Southern African Trade and Development Bank (PTA Bank) has received a cash injection form the African Development Bank (AfDB), which is designed to boost trade and economic development activities of PTA Bank.

King & Spalding hires ex WTO deputy director
King & Spalding hires ex WTO deputy director
Dan Sheriff
4 October 2013

International law firm King & Spalding has hired Alejandro Jara, former deputy director general of the World Trade Organisation (WTO), as senior counsel in the WTO and international trade practice of its Geneva office

Video Interview: Werner Steinmueller, Global Head of Transaction Banking, Deutsche Bank
Video Interview: Werner Steinmueller, Global Head of Transaction Banking, Deutsche Bank
Jonathan Bell
3 October 2013

Werner Steinmueller, Global Head of Transaction Banking at Deutsche Bank talks trade trends with Jonathan Bell, Editor in Chief at TXF News.

US Ex-Im recruits Claudia Slacik for SVP export finance role
US Ex-Im recruits Claudia Slacik for SVP export finance role
Jonathan Bell
1 October 2013

The Export-Import Bank of the United States (US Ex-Im) has recruited Claudia Slacik as chief banking officer and senior vice president for export finance. She joins US Ex-Im with more than 30 years of experience in the financial industry.

Trade & Supply Chain Finance
Trade & Supply Chain Finance
Max Carter
1 October 2013

We are pleased to bring you the TXF Trade and Supply Chain Finance Special Report 2013. The report, which is part of our Trade and Supply Chain Finance Series

JB's weekly round-up - 30 September 2013
JB's weekly round-up - 30 September 2013
Jonathan Bell
30 September 2013

Each Monday, we will be sending our weekly market news roundup. This will include a short commentary on the key stories of the week, as well as links to our top picks. We hope you enjoy it, and would welcome your feedback. It is entirely free, so please feel free to share with your colleagues, contacts and clients.

SG and Bpifrance sign pact for French exporters
SG and Bpifrance sign pact for French exporters
Jonathan Bell
25 September 2013

Société Générale (SG) and Bpifrance have today signed a partnership agreement to support the overseas growth of French businesses. The two institutions, which have a history of working together to finance French businesses within France, have decided to strengthen their collaboration internationally.

StanChart leads syndicated financing for Stanford Asia
StanChart leads syndicated financing for Stanford Asia
Mayur Pande
25 September 2013

Standard Chartered (StanChart) has arranged a senior syndicated loan facility for marine services company Stanford Asia Holding Company (SAHC), amounting to $300 million. The facility, which was oversubscribed, was syndicated to a largely Middle Eastern investor base, will be used by SAHC to refinance existing debt.

HSBC recruits Bart Ras for global head role
HSBC recruits Bart Ras for global head role
Jonathan Bell
24 September 2013

HSBC has recruited Bart Ras to its ranks where he will have the title of global head of business development for the bank’s global trade and receivables finance (GTRF) business He takes up the post on 15 October 2013.

Scotiabank rolls out first phase of CGI Trade360 platform
Scotiabank rolls out first phase of CGI Trade360 platform
Mayur Pande
20 September 2013

Canada’s Scotiabank has completed the Canadian rollout of CGI’s cloud-based, ‘software-as-a-service’ (SaaS) solution, CGI Trade360. The announcement was made at Sibos Dubai this week. In the first phase of the programme, CGI Trade360 will replacing the Scotiabank’s legacy trade and supply chain applications with an integrated platform.

Kyriba and CGI team to provide cloud-based trade finance services
Kyriba and CGI team to provide cloud-based trade finance services
Jonathan Bell
19 September 2013

In a landmark partnership agreement for the trade finance technology sector, Kyriba, a leader in cloud-based treasury management solutions, and trade platform and software company CGI have agreed on the integration of CGI’s market leading trade solution, CGI Trade360, into the Kyriba Enterprise platform.

India’s YES Bank success with dual currency facility
India’s YES Bank success with dual currency facility
Jonathan Bell
19 September 2013

India’s YES Bank has successfully closed a loan facility equivalent to $255 million. The facility will be used for general corporate purposes and trade financing for the bank’s clients.

BAML launches accelerated payments to Asia
BAML launches accelerated payments to Asia
Jonathan Bell
19 September 2013

Bank of America Merrill Lynch (BAML) has launched a new payment product which is designed to improve the speed and efficiency with which banks and corporations make high value US dollar payments to Asian markets.

Lloyds Bank teams with StanChart for Asian trade
Lloyds Bank teams with StanChart for Asian trade
Jonathan Bell
17 September 2013

The UK’s Lloyds Bank has signed a partnership agreement with Standard Chartered Bank (StanChart) to team in providing enhanced services to its clients importing from Asia-Pacific.

JP Morgan recruits Kah Chye Tan
JP Morgan recruits Kah Chye Tan
Jonathan Bell
17 September 2013

JP Morgan has recruited Kah Chye Tan, within a week of Tan leaving his previous employers Barclays Bank.

Cote d’Ivoire’s SIMAT gets Afrexim import loan
Cote d’Ivoire’s SIMAT gets Afrexim import loan
Jonathan Bell
17 September 2013

The African Export-Import Bank (Afrexim) has signed €5.64 million ($7.5 million) credit facility for the Cote d’Ivoire based firm, SIMAT, to finance the import of equipment for its services in the areas of marine and air transit and handling.

Georgia’s TBC Bank secures funds through FMO led facility
Georgia’s TBC Bank secures funds through FMO led facility
Jonathan Bell
16 September 2013

Georgia’s TBC Bank has signed a €35 million subordinated loan agreement with its shareholder Dutch development bank, FMO. The loan facility is provided in syndication with the Canadian investor, Cordiant and the Swedish development bank, Swedfund.

Bankers see plenty of choice for growth within EMEA
Bankers see plenty of choice for growth within EMEA
Jonathan Bell
13 September 2013

Despite turmoil in much of the Middle East, the EMEA region has a wealth of opportunities for growth in trade finance. TXF talks with Sameer Sehgal and Anurag Chaudhary at Citi about the outlook for trade in the region.

Japan Nexi support for auto sales in Indonesia
Japan Nexi support for auto sales in Indonesia
Jonathan Bell
12 September 2013

Japan’s Nippon Export and Investment Insurance (Nexi) has agreed to provide overseas untied loan insurance for loans provided by ING Bank, Tokyo branch and Development Bank of Japan to OTO Multiartha (OTO), an auto financing company in Indonesia.

Globus expansion in Russia with KfW ruble loan
Globus expansion in Russia with KfW ruble loan
Mayur Pande
11 September 2013

KfW IPEX-Bank is providing a long-term ruble loan for the equivalent of altogether €36 million ($47.8 million) to finance the construction of a hypermarket in Tver, Russia.

Global head interview – Deutsche Bank
Global head interview – Deutsche Bank
Jonathan Bell
11 September 2013

TXF talks to Deutsche Bank about the current state of the trade and supply chain finance market.

Global head interview – Citi
Global head interview – Citi
Jonathan Bell
11 September 2013

TXF talks to Citi about the current state of the trade and supply chain finance market.

Global head interview – BNP Paribas
Global head interview – BNP Paribas
Jonathan Bell
11 September 2013

TXF talks to BNP Paribas about the current state of the trade and supply chain finance market.

Kah Chye Tan departs from Barclays
Kah Chye Tan departs from Barclays
Mayur Pande
6 September 2013

After two years at the bank, Kah Chye Tan has departed Barclays in London where he was vice-chair of the bank’s global trade team. As a highly experienced and respected trade banker, Tan’s arrival at Barclays in 2011 was seen as a coup for the ban

VTB Bank begins transactions in renminbi
VTB Bank begins transactions in renminbi
Dan Sheriff
5 September 2013

VTB Bank’s Shanghai branch, the only Russian bank with a Chinese financial operation licence, has begun conducting transactions in renminbi (RMB) for corporate clients who are Chinese residents. The bank has successfully completed its extensive preparations which included additional capitalisation and the obtaining of a new licence

Deutsche opens branch in Qingdao, China
Deutsche opens branch in Qingdao, China
Jonathan Bell
4 September 2013

Deutsche Bank has opened a new branch in Qingdao, China following the approval from the China Banking Regulatory Commission (CBRC). The Qingdao branch is the bank’s sixth branch in China, complementing others in Beijing, Shanghai, Guangzhou, Tianjin and Chongqing.

Boost for VEB Leasing with VTB credit lines
Boost for VEB Leasing with VTB credit lines
Mayur Pande
4 September 2013

Russia’s VEB Leasing has received a boost to its operations with the signing of a RUB30 billion ($897 million) credit line provided by VTB Bank. The facility has an overall tenor of 10-years. Under the umbrella arrangement, VEB Leasing has received the first loan instalment of RUB5.78 billion. This loan has a tenor of five years.

Mongolia’s Khan Bank gets EBRD backing
Mongolia’s Khan Bank gets EBRD backing
Dan Sheriff
4 September 2013

One of the largest commercial banks in Mongolia, Khan Bank has teamed with the European Bank for Reconstruction and Development (EBRD) to develop an innovative financial instrument for the Mongolian market under the rubric ‘value chain finance’, to improve access to finance for small businesses and to help strengthen value chains in the country.

Albania’s Union Bank expands trade finance offering
Albania’s Union Bank expands trade finance offering
Jonathan Bell
3 September 2013

Albania’s Union Bank Albania has been able to expand its trade finance offering following an injection of funds from the IFC. The funds will specifically be used to increase financing to small and medium-sized enterprises (SMEs) that work in imports and exports.

Albania’s Credins Bank gets trade loan
Albania’s Credins Bank gets trade loan
Jonathan Bell
28 August 2013

The European bank for Reconstruction and Development (EBRD) is providing Albania’s Credins Bank with €10 million ($13.3 million) in loans for on-lending to local small and medium-sized enterprises and supporting trade finance solutions for clients of the bank.

Deutsche pushes paperless trade payments with China
Deutsche pushes paperless trade payments with China
Dan Sheriff
21 August 2013

Deutsche Bank is increasing automation in its trade payments processes with China. As of 1 September 2013, the bank will launch paperless cross-border payment services in China via its electronic banking platform − db-direct internet.

Tanzania’s NMB signs loan with European DFIs
Tanzania’s NMB signs loan with European DFIs
Dan Sheriff
21 August 2013

Tanzania’s National Microfinance Bank (NMB) has signed a $65 million loan agreement in a transaction led by the Netherlands Development Finance Company (FMO) in cooperation with the German Development Finance Company (DEG) and EFP (European Financing Partners (EFP); a group of 14 other European development finance institutions (DFIs).

Lloyds Bank appoints director of global trade
Lloyds Bank appoints director of global trade
Dan Sheriff
21 August 2013

Lloyds Bank Commercial Banking has appointed Jacqueline Keogh as director of global trade to lead the bank’s global trade proposition. She takes up the position on 2 September Keogh joins Lloyds Bank from Standard Chartered where she held the position of managing director, regional head of banks, Europe in the transaction banking division, delivering strong

StanChart sets-up renminbi solutions team
StanChart sets-up renminbi solutions team
Dan Sheriff
15 August 2013

Standard Chartered (StanChart) has set-up a renminbi (RMB Solutions) team that is responsible for delivering bespoke client solutions to help them best capture opportunities arising from the internationalisation of the RMB.

New executive director named for International Trade Centre
New executive director named for International Trade Centre
Jonathan Bell
15 August 2013

The United Nations has announced the appointment of Arancha Gonzalez of Spain as executive director of the International Trade Centre (ITC), the joint agency of the United Nations Conference on Trade and Development (UNCTAD) and World Trade Organisation (WTO) for trade and international business development.

KSA’s Mobily raises export finance for network expansion
KSA’s Mobily raises export finance for network expansion
Mayur Pande
8 August 2013

The Kingdom of Saudi Arabia (KSA) mobile telecommunications operator Mobily has secured $650 million in export credit financing to meet the cost of its network and internet expansion through to 2015. Mobily has signed two agreements each for up to $325 million with Finland’s export credit agency (ECA) Finnvera, and the Swedish Export Credits Guarantee Board – EKN

Nedbank and Bank of China formalise alliance
Nedbank and Bank of China formalise alliance
Dan Sheriff
6 August 2013

South Africa’s Nedbank and the Bank of China (BoC) have entered into a strategic business cooperation agreement to develop business flows between the People’s Republic of China and Africa.

Gunvor and GE Capital sign factoring deal
Gunvor and GE Capital sign factoring deal
Dan Sheriff
29 July 2013

Energy commodity trading company Gunvor has signed a €225 million ($298.4 million) factoring programme with GE Capital for Gunvor’s receivables portfolio. The programme will finance part of Gunvor’s German oil refining business.

CBA appoints global head of trade
CBA appoints global head of trade
Dan Sheriff
26 July 2013

Commonwealth Bank of Australia (CBA) has appointed Neal Livingston as its global head of trade and transaction services (GTTS), within the institutional banking and markets unit.