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.
TXF talks to Crédit Agricole CIB about some of the major trends impacting the export credit sector at the present time.
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.
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.
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
Surecomp has announced that its IMEX Trade Finance solution has been deployed by Romania’s UniCredit Tiriac Bank (UTB). Cristina Bunescu, head of trade finance at UTB comments: “By adapting Surecomp’s solutions to our specific needs, we were able
Specialist positioning technology provider Trimble has appointed Francois Delepine as chief financial officer (CFO). Trimble integrates a wide range of positioning technologies including GPS, laser,optical and inertial technologies with application software, wireless communications, and services.
Danish export credit agency Export Kredit Fonden (EKF) has reported a significant rise in the number of small and medium-sized enterprises (SMEs) winning SME export guarantees. During the first nine months of 2013, EKF guaranteed approximately DKK100 million $18 million for SMEs - more than the figures for 2011 and 2012 combined.
Law firm Norton Rose Fulbright (NRF) has appointed banking and finance partner Keith Sandilands to head its aviation practice in Asia. He recently moved from the London office to Singapore. He previously worked in the firm’s Singapore and Jakarta offices between 1991 and1999.
RBS has appointed Michael Gilham as a director for financial institutions trade origination in EMEA at RBS International Banking. He joins from Lloyds Bank where he led the financial institutions trade finance business for over five years. Before this he held trade finance and credit risk related roles at Citi.
BHP Billiton (BHP), Royal Bank of Scotland (RBS), Westpac Banking Corporation, Cargill and Minerva Marine have completed the first trade financed iron ore trade using ESS’s CargoDocs electronic bill of lading and eUCP Presentation solutions. CargoDocs was used on a shipment from Australia to China.
The Export-Import Bank of the United States (US Ex-Im) has contributed over $1 billion in revenues to the US Treasury for the fiscal year 2013. This revenue, generated for US taxpayers from fees and services, is what the bank earned above its operating costs and loan loss reserves.
Standard Chartered (StanChart) announced today that it has completed a trade finance transaction with the Bank Payment Obligation (BPO) under the Uniform Rules for BPO (URBPO) for PTT Polymer Marketing (PTTPM), a leading polymer sales and marketing company in Thailand.
Pan-African Ecobank has successfully, officially deployed Global CASHplus, Fundtech’s integrated, real-time cross-border payment and cash management system in 30 African countries.
Barclays has provided UK exporter Techflow Marine with a performance guarantee bond and warranty bond using the UK Export Finance (UKEF) bond support scheme.
First the Berne Union (BU), and now the ICC Banking Commission – both hosting in Vienna. Well, why not, it is a beautiful and friendly city – any time of the year. So, last week, the great and the good in much of the trade finance world descended once again on the city for the ICC’s Banking Commission meeting.
Standard Bank has signed a ground-breaking deal with independent power producer Aeolus Kenya (AKL), to build a $150-million wind power plant in Kenya. The 60.8MW Kinangop Wind Park project will be largest wind power generation farm in sub-Saharan Africa to date. The wind power plant will be built in Kinangop Plateau in central Kenya.
Several significant changes to the ICC Banking Commission executive committee were announced during October’s meeting in Vienna. Long time industry stalwarts, Dan Taylor and Georges Affaki are stepping down from their roles on the executive committee.
Alexander Malaket, president of OPUS Advisory Services International, and managing director of Trade Finance Associates Ltd, reports on the trade finance and BPO panel at the WTO Public Forum 2013 held in Geneva in early October.
Barclays is continuing to expand its tade finance team with the appointment of Geoff Parry as UK head of global corporates, trade finance. Parry joins Barclays from National Australia Bank (NAB) where he was head of trade finance South-East Asia, based in Singapore.
Regulation was the key challenge identified by panelists at an engaging opening session of the ICC banking commission meeting in Vienna.
An update on the progress of the Bank Payment Obligation (BPO) was provided at the ICC Annual Meeting in Vienna, Austria. Questions flew in thick and fast from bankers at a pre-event workshop, ranging from concerns about fraud, comparisons with letters of credit
Netherlands based development bank, FMO, has made two new appointments to its management structure. In the first instance, Jurgen Rigterink has been appointed as the new chief risk and finance officer. He takes over the role from Nico Pijl, who is retiring (see below). Rigterink will move from his current position as chief investment officer.
Margrith Lütschg-Emmenegger has been name as the new chairman of the International Factors Group (IFG). Lütschg-Emmenegger, who is president at FIMBank in Malta, has worked across factoring and forfaiting throughout her career and is well known in the market. Her appointment to the new role was made at the IFG's annual conference in India.
BNY Mellon has appointed Monika Aminiova as market manager for treasury services in Europe, the Middle East and Africa (EMEA) based in London. With the aim of orientating the company as a key provider of global payment services, Aminiova will report into Peter Hazou and will seek to develop and commercialise BNY Mellon's multi-currency payments solutions. The company already sustains payment transactions in over 100 currencies.
Credit Agricole Bank in Armenia (ACBA) has secured a three-year, $9 million local currency loan from EBRD for on-lending to micro, small and medium-sized enterprises (MSMEs) and a further $3.5 million for energy efficiency loans. ACBA aims to continue to strengthen and support MSMEs who have difficulty accessing finance especially in local currency.
Aviation Capital Group (ACG) has closed a four-year, senior unsecured revolving credit facility of $850 million. The facility increases ACG’s committed revolving debt capacity to $1 billion and provides increased flexibility to support its operations and growth.
A joint statement from seven multilateral financial institutions (MFIs) and development finance institutions (DFIs) puts pressure on the World Trade Organisation (WTO) to further assist in global trade with the establishment of a trade facilitation programme.
The Korean export credit agency (ECA), the Export-Import Bank of Korea (Kexim) has successfully issued global bonds worth $1 billion to investors worldwide. The foreign currency funds obtained through the bond issue will go to supporting the export finance activities of Kexim and the globalisation of Korea’s strategic industries including industrial plants, shipbuilding, resource development, and other industries.
Nordea has selected Surecomp’s trade finance solution suite for its global trade operations. Under the deal, Nordea has licensed IMEX, Surecomp’s world-leading trade finance back-office platform, allNETT, Surecomp's web-based trade finance front-end and SCF-PRO, Surecomp’s supply chain finance solution.
John McAdams, formerly of US-Ex-Im, has been appointed as the CEO of ExWorks Capital, a newly formed joint venture between Interlink Capital Strategies and RedRidge Finance Group*. The company offers export trade financing solutions to underserved US exporters and international buyers using US Ex-Im Bank loan guarantees and insurance.
Carole Berndt has now started as the new global head of transaction services at The Royal Bank of Scotland (RBS). She is be based in London and reports to John Owen, CEO, international banking. Berndt joins RBS from Bank of America Merrill Lynch (BAML) where she was EMEA head of transaction banking, a role she has held for over three years. Before BAML she spent nearly 10 years working in transaction banking with Citi, holding a variety of roles in both Hong Kong and New York.
Federated Investors (Federated), one of the largest investment managers in the United States, has expanded capabilities in trade finance and emerging-market debt with new personnel at its London office. Federated has hired three investment professionals specialising in trade-finance strategies and two specialists in emerging-market strategies for the UK office.
Russia’s Promsvyazbank (PSB) has signed one-year, dual-tranche loan facility agreement with a syndicate of international banks, amounting to a total of $300 million.
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.
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.