TXF Americas 2020
The fun in the sun returns! Bringing all key players together for two days of networking, we explore case studies of the latest deals and examine the next hot opportunities across the region.
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.
Pan-African Ecobank has signed a $200 million loan from the African Development Bank (AfDB) to help bolster African trade flows.
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 continue to make inroads in the provision of cash management structures and solutions for their clients operating in the Shanghai Free Trade Zone (FTZ).
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.
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.
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
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.
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.
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 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.
Specialist insurer, Markel International, has appointed Simon Philpin as underwriter and senior risk analyst in its trade credit division.
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.
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
The Prague Club is an information exchange network for new and maturing insurers of export credit and investment. The first official meeting was held in Prague, and carrying on the tradition the Berne Union began 50 years earlier, the group was named after the city of the inaugural meeting. In 2013 the Prague Club once again held its Spring Meeting in Prague to celebrate the 20th anniversary of the association.
Global trade and foreign direct investments have seen dramatic changes in the 80 years since the Berne Union was founded. Not surprisingly, the Berne Union itself has changed in tandem with these. But the world of the Berne Union is more complex than this simple picture.
Export credit is a tool which has been used for decades to support exports in a world where the main driver of economic growth has been international trade. The need for export finance has been questioned for 40 years, but today after several years of crisis, most people recognise the importance of this tool to support the economy.
An arguably common theme in medium- and long-term (MLT) export finance circles today is that full implementation of Basel III will elicit the end of commercial banks as the funding source for long-term financing – with long term export finance1 as one of many segments affected
Export credit agencies (ECAs) and development finance institutions (DFIs) have very different purposes, mandates and in the case of multilateral institutions, ownership structures. However, there are many important areas of overlap where the pursuit of different mandates and different policy
Although the operations of Berne Union members are diversified across various products, geographies, governance models, and regulatory systems, the growing role of ECAs in facilitating large medium- to long- term (MLT) export transactions has been clear for all to see in the years since the Lehman Brothers collapse almost toppled the world’s financial systems.
Africa 80 years ago was a much different place. In fact, when the Berne Union was launched, Africa was largely under colonial rule. A few decades later, with independence firmly seized, most struggled to control severe poverty rates and warring factions. An institution such as the African Trade Insurance Agency (ATI) was not even on the radar of African governments.
The role of international trade and its impact on the global economy has been revisited anew since the global economic crisis. This article examines the impact of international trade in recent years and the specific role that export credit agencies (ECAs) have played.
The African Development Bank (AfDB) has signed an unfunded €40 million ($54.8 million) risk participation agreement (RPA) with BNP Paribas (BNPP) to support the trade finance activities of African issuing banks.
The National Bank of Abu Dhabi (NBAD) has recruited James Burdett as its group’s new chief financial officer (CFO). Burdett joins the Emirates bank from Australia and New Zealand Banking Group (ANZ), where he held roles as CFO for international & institution banking and, before that, CFO for the bank’s Asia, Pacific, Europe and Americas operations.
Five leading business associations have joined forces with the International Chamber of Commerce (ICC) Banking Commission to undertake a major project to standardise and harmonise market terminology for global supply chain finance products and services.
Geoffrey Wynne, head of the trade and export finance group at Sullivan & Worcester (S&W), and Simon Cook, partner in the same group, tackle the subject of ‘What to do about risk in trade finance transactions’ as part of the S&W Breakfast Seminar Series.