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The promise of greater automation excites trade community
The promise of greater automation excites trade community
Dan Sheriff
29 November 2013

In a recent poll taken at the TXF Short-Term Trade and Supply Chain Finance conference in Munich, participants were most excited by automation in the sector, saw BPO as the biggest innovation, and regulation as the key challenge.

Italy’s Sace opens Mexico City office
Italy’s Sace opens Mexico City office
Mayur Pande
29 November 2013

Italian export credit agency (ECA) and insurance and financial group Sace, has opened a representative office in Mexico City. The ECA says that the move comes about due to dynamic trade with multinationals operating in the country and the huge business potential for small business enterprises (SMEs

Bolero and China Systems establish strategic partnership
Bolero and China Systems establish strategic partnership
Mayur Pande
28 November 2013

Bolero International and China Systems, a leading trade services solutions vendor, have established a strategic partnership designed to assist clients involved in trade by providing increased flexibility and functionalities. The agreement finalises the full integration between Bolero Exchange and Eximbills Enterprise, China Systems’ flagship trade finance back office solution.

JB's weekly round-up - 28 November 2013
JB's weekly round-up - 28 November 2013
Jonathan Bell
28 November 2013

Apologies for the late mailing of the Weekly News – TXF was somewhat tied up with its Short-Term Trade & Supply Trade Conference in Munich for the first part of this week, which I will relay detail to you in next week’s news.

HSBC makes senior appointments in Asia-Pacific commercial banking
HSBC makes senior appointments in Asia-Pacific commercial banking
Dan Sheriff
26 November 2013

HSBC has made a series of senior appointments in its Asia-Pacific commercial banking team. Sanjay Prakash has been appointed head of commercial banking, international countries Asia-Pacific. Prakash will take charge of the commercial banking performance of Brunei, Macau, Maldives, Mauritius, New Zealand, Philippines, Sri Lanka, Taiwan, Thailand and Vietnam.

WFW recruits new partner for in London
WFW recruits new partner for in London
Dan Sheriff
26 November 2013

Watson, Farley & Williams (WFW) has appointed Joe Levin as partner in its London office. Levin previously held the position of director of the energy and infrastructure finance team at Wragge & Co, and joined WFW in early November 2013.

Russian-Italian investment platform launches
Russian-Italian investment platform launches
Jonathan Bell
26 November 2013

The Russian Direct Investment Fund (RDIF) and Fondo Strategico Italiano (FSI) today signed a landmark agreement to establish a €1 billion ($1.36 billion) Russian-Italian investment platform

Sace and Russia’s VEB sign cooperation agreement
Sace and Russia’s VEB sign cooperation agreement
Dan Sheriff
26 November 2013

The Italian export credit agency Sace and Russia’s Vnesheconombank (VEB) have signed a cooperation agreement to facilitate economic relations between Italy and the Russian Federation.

Eastern Europe outlook - Economic diffusion: the effects of the eurozone crisis on Eastern Europe
Eastern Europe outlook - Economic diffusion: the effects of the eurozone crisis on Eastern Europe
Per Fischer
21 November 2013

Eastern European growth has laboured as a result of the eurozone crisis. Yet overall economic growth continues to surpass that of Western Europe, says Per Fischer, head of financial institutions CEE, Russia, CI, Baltics and Turkey at Commerzbank. And with trade between Eastern and Western Europe remaining strong, these established trading relationships could be reinforced if potential developments in the east of the continent come to fruition

Citi and Santander partner for trade securitisation
Citi and Santander partner for trade securitisation
Dan Sheriff
21 November 2013

Citi and Santander have partnered to issue Trade MAPS 1 - an asset-backed securitisation (ABS) debt issuance backed by trade finance assets. The two institutions will be joint book runners on the $1 billion ABS, alongside Morgan Stanley, who are also sole structuring agent.

Finacity arranges securitisation for Mexico’s Vitro
Finacity arranges securitisation for Mexico’s Vitro
Mayur Pande
20 November 2013

Stamford, US-headquartered Finacity Corporation has successfully merged of two existing trade receivables securitisations for Mexican glass producer Vitro SAB de CV (Vitro). The combined financing amounts to MXN1.2 billion ($91.5 million).

 Hogan Lovells expands with South African merger
Hogan Lovells expands with South African merger
Dan Sheriff
20 November 2013

Law firm Hogan Lovells is expanding its scope and capabilities in Africa by merging with the South African law firm Routledge Modise. The combination will take effect from 1 December 2013, with Routledge Modise expected to rebrand and relaunch as Hogan Lovells in early 2014.

Investors make deposits in FMO fund for emerging markets
Investors make deposits in FMO fund for emerging markets
Jonathan Bell
20 November 2013

Dutch institutional investors Zwitserleven, the Spoorweg Pensioenfonds and the Pensioenfonds Openbaar Vervoer have made a first deposit in the SNS FMO SME Finance Fund – a fund set up to assist small and medium-sized companies(SMEs) in developing countries. The fund has received €100 million ($135.4 million) in investments for a first close. It is expected that commitments will increase substantially in 2014.

NBAD hires structured finance head
NBAD hires structured finance head
Dan Sheriff
20 November 2013

The National Bank of Abu Dhabi (NBAD) has appointed Aleem Khan as head of its newly established structured financing business. Before joining NBAD, Khan served as regional head of structured trade finance and financing solutions for Middle East and North Africa (MENA) and the Americas at Standard Chartered Bank.

81% say capital markets 'essential' to future of export finance
81% say capital markets 'essential' to future of export finance
Dan Sheriff
19 November 2013

Read the results from our ECA finance industry poll, taken at the TXF conference in Paris

Record year for OPIC
Record year for OPIC
Jonathan Bell
15 November 2013

The Overseas Private Investment Corporation (OPIC) has announced a record year for fiscal year 2013. Highlights of the year’s operations include: • OPIC's lending programme committed an unprecedented $3.75 billion in support of US businesses investing in

Sullivan & Worcester broadens London office scope
Sullivan & Worcester broadens London office scope
Dan Sheriff
14 November 2013

Law firm Sullivan & Worcester, recently established in London, is broadening its scope with the appointment of yet another partner (also see TXF News 7 November 2013). This latest move sees the appointment of Mark Norris as a partner to the London office, where he will focus on structured export credit finance, structured trade and commodity finance in emerging markets, and acquisition finance.

Finacity launches receivables securitisation for Hapag-Lloyd
Finacity launches receivables securitisation for Hapag-Lloyd
Mayur Pande
13 November 2013

Finacity Corporation (Finacity) has facilitated the successful launch of a new $350 million global freight receivables securitisation for German-headquartered Hapag-Lloyd Group (Hapag-Lloyd), a leading global shipping company. The programme replaces the company’s existing North American facility.

An institutional investor perspective on export credit
An institutional investor perspective on export credit
Dan Sheriff
12 November 2013

TXF were delighted to welcome Nicolas Gagnerie of Axa, alongside Pekka Karkovirta of Finnvera, Xavier Fessart of Credit Agricole for an open discussion on how export credit can access liquidity from institutional invest

An economic tour of the world from Yves Zlotowski, chief economist at Coface
An economic tour of the world from Yves Zlotowski, chief economist at Coface
Dan Sheriff
12 November 2013

Yves Zlowtowski, chief economist at Coface, took delegates at the TXF ECA Finance conference for an hour long trip around the world, giving unique economic insight to developed and emerging markets alike.

The post-Lehman environment for global loans – Watch Lorenz Jorgensen’s presentation at ECA Finance 2013
The post-Lehman environment for global loans – Watch Lorenz Jorgensen’s presentation at ECA Finance 2013
Dan Sheriff
12 November 2013

Another chance to see the speech of Lorenz Jorgensen, Head of Syndications at EBRD, at our ECA Finance Conference in Paris.

“ECAs, exporters and banks must seize the initiative on Basel III” - Eric De Jonge video
“ECAs, exporters and banks must seize the initiative on Basel III” - Eric De Jonge video
Dan Sheriff
12 November 2013

Eric De Jonge, global head of export finance at ING updates TXF on the activity of the 16 bank ICC loss register for export finance, during an interview at our Paris conference in November.

“Export credit must not only be about price, but quality” - Axel-Peter Ohse video
“Export credit must not only be about price, but quality” - Axel-Peter Ohse video
Dan Sheriff
12 November 2013

UniCredit’s global head of export finance, Axel-Peter Ohse, tells TXF that the market has changed from being export-driven, to import-driven.

“We may move to invite new players to ECA cover” - Thomas Baum interview
“We may move to invite new players to ECA cover” - Thomas Baum interview
Dan Sheriff
12 November 2013

Thomas Baum, head of underwriting and risk within the German Federal Export Credit Guarantees talks export finance trends with TXF

Deutsche boosts trade in ASEAN region
Deutsche boosts trade in ASEAN region
Dan Sheriff
12 November 2013

Deutsche Bank has appointed two trade finance and cash management for corporates (TF/CMC) country heads, strengthening the management of its business in ASEAN countries. They will be responsible for developing and executing the overall TF/CMC business strategy in their respective countries – Indonesia and Malaysia.

Peter Jones officially steps down as BU secretary general
Peter Jones officially steps down as BU secretary general
Dan Sheriff
11 November 2013

Berne Union, the association of export credit insurers, today announced the retirement of secretary general Peter Jones.

Toyota Capital Malaysia selects SunGard
Toyota Capital Malaysia selects SunGard
Mayur Pande
11 November 2013

Toyota Capital Malaysia (CAPM) - a joint venture between Toyota Financial Services of Japan and UMW Corporation - has selected SunGard’s AvantGard Treasury (Integrity) to manage treasury and cash management. TCAPM’s business has grown substantially with total managed assets standing at MYR4,078 million ($1.27 billion) as of September 30, 2013.

JB's weekly round-up - 11 November 2013
JB's weekly round-up - 11 November 2013
Jonathan Bell
11 November 2013

And so that day actually comes around this week, as the TXF office jumps over the English Channel and descends on Paris for our ECA Finance in 2013 Conference on 12-13 November at the Les Salons de l’Hotel des Arts & Métiers.

HSBC hires head for corporate client coverage
HSBC hires head for corporate client coverage
Dan Sheriff
11 November 2013

HSBC has appointed Joel Van Dusen as its first global head of large corporates, tasked with shaping HSBC commercial banking’s strategic approach to its biggest domestic and multinational clients.

UKEF strengthens trade ties with Korea
UKEF strengthens trade ties with Korea
Phoebe Robertson
8 November 2013

The UK and South Korea are set for greater cooperation between the two countries in the field of export finance following the signing of cooperation agreements between the export credit agencies (ECAs) of both countries.

US Ex-Im wins with innovative solutions
US Ex-Im wins with innovative solutions
Jonathan Bell
8 November 2013

Jonathan Bell talks with Fred Hochberg, about the search for a level playing field.

Export finance head interview – UniCredit
Export finance head interview – UniCredit
Jonathan Bell
8 November 2013

TXF talks to UniCredit about some of the major trends impacting the export credit sector at the present time.

Export finance head interview – Société Générale CIB
Export finance head interview – Société Générale CIB
Jonathan Bell
8 November 2013

TXF talks to Société Générale CIB about some of the major trends impacting the export credit sector at the present time.

Export finance head interview – Nordea
Export finance head interview – Nordea
Max Carter
8 November 2013

TXF talks to Nordea about some of the major trends impacting the export credit sector at the present time.

How to avoid the boardroom vacuum
How to avoid the boardroom vacuum
Daniel Wagner
8 November 2013

Trade transactions are fraught with all kinds of perils – starting with those in the board room. Country risk specialist Daniel Wagner provides insight into how to avoid nasty surprises.

A threat to the future of export finance?
A threat to the future of export finance?
Thierry Senechal
8 November 2013

The ICC Trade Register has assisted the industry and policy-makers in developing a pool of data to evaluate the long-held claim that trade and export finance is a relatively low-risk form of financing.

Export finance head interview – Investec
Export finance head interview – Investec
Jonathan Bell
8 November 2013

TXF talks to Investec about some of the major trends impacting the export credit sector at the present time.

Export finance head interview – ING Bank
Export finance head interview – ING Bank
Jonathan Bell
8 November 2013

TXF talks to ING about some of the major trends impacting the export credit sector at the present time.

Export finance head interview – HSBC
Export finance head interview – HSBC
Jonathan Bell
8 November 2013

TXF talks to HSBC about some of the major trends impacting the export credit sector at the present time.

ECA documentation
ECA documentation
Valerie Colville
8 November 2013

Valerie Colville and Francisco Anzola asses documentation necessities

The widening base in sub-Saharan Africa
The widening base in sub-Saharan Africa
Jonathan Bell
8 November 2013

Jonathan Bell examines some of the recent ECA- backed activity in sub-Saharan Africa, and finds an increasingly broad spectrum of transactions.

Export finance head interview – Crédit Agricole CIB
Export finance head interview – Crédit Agricole CIB
Jonathan Bell
8 November 2013

TXF talks to Crédit Agricole CIB about some of the major trends impacting the export credit sector at the present time.

The revival of ECAs
The revival of ECAs
Alexander R Malaket
8 November 2013

Alexander Malaket reviews the role of the export credit agencies and examines how they are continuing to evolve, while also posing some thought-provoking questions.

Export finance head interview – Commerzbank
Export finance head interview – Commerzbank
Jonathan Bell
8 November 2013

TXF talks to Commerzbank about some of the major trends impacting the export credit sector at the present time.

Export finance head interview – Citi
Export finance head interview – Citi
Jonathan Bell
8 November 2013

TXF talks to Citi about some of the major trends impacting the export credit sector at the present time.

ING to facilitate clients by moving centre of expertise to Frankfurt
ING to facilitate clients by moving centre of expertise to Frankfurt
Jonathan Bell
8 November 2013

With ING Commercial Banking expanding its export finance department in Frankfurt, it is de facto creating yet another centre of expertise facilitating international business opportunities for its clients. Jonathan Bell talks to Eric de Jonge, global head of structured export finance at ING, about the benefits of the reorganisation.

Export finance head interview – BNP Paribas
Export finance head interview – BNP Paribas
Jonathan Bell
8 November 2013

TXF talks to BNP Paribas about some of the major trends impacting the export credit sector at the present time.

EXIAR and Garant to cooperate in trade
EXIAR and Garant to cooperate in trade
Phoebe Robertson
7 November 2013

Credit and political risk specialist Garant and Russian export credit agency, Export Insurance Agency of Russia (EXIAR), have signed a cooperation agreement in Moscow. The deal aims to enhance Garant and EXIAR’s capabilities

Simon Cook joins Sullivan & Worcester
Simon Cook joins Sullivan & Worcester
Dan Sheriff
7 November 2013

Law firm Sullivan & Worcester continues to build its trade and commodity finance practice at its newly opened London offices, with the hiring of Simon Cook. Cook, like many of the other at the new London office, comes from Dentons, where he acted as a partner in the banking division.

StanChart appointed for Indian wind farm cash account
StanChart appointed for Indian wind farm cash account
Jonathan Bell
6 November 2013

Standard Chartered (StanChart) has been appointed as the sole account bank for CLP Wind Farm’s (India) (CLPWF) pooled projects. CLPWF’s current wind power projects are funded by multiple lenders, and each power project has a different account bank.Under