Australian junior cobalt explorer Jervois Mining has appointed ex-Glencore nickel executive Peter Johnston to its Board of Directors. He has more than 35 years of operational and project development experience.
From 2013 to 2015, he was Head of Global Nickel Assets for Glencore International AG and sat on the Glencore executive management committee.
The move means that all Jervois Mining board members are previous executives of Glencore. Johnston joins non-executive directors Brian Kennedy and Michael Rodriguez.
Standard Chartered’s unique supply chain finance solution offers a win-win for both buyers and suppliers. By Michael Sugirin, Head of Open Account and Trade Implementation, Transaction Banking, Standard Chartered.
The US Ex-Im political quagmire continues. So Michael Whalen, managing director at Berkeley Group and former vice president of structured finance at US Ex-Im, asks what a new US export finance agency vision might look like.
African-focused renewable power company Lekela has appointed the former Director of Finance for Globeleq Michael Parsons as Chief Financial Officer, who will also serve as a member of the Lekela Executive Committee.
As a growing number of blockchain initiatives start live testing, albeit in controlled environments, trade tech is moving to an even more confusing level – a plethora of rival product claims backed by proofs of concept. Choice of tech and provider is about to get even more complicated.
Export Development Canada (EDC) is mishandling loan risks and keeping board members in the dark about key financing arrangements, according to a report by federal Auditor-General Michael Ferguson. He criticised the Ottawa-based export lender for not adequately tracking potentially risky loans, failing to keep up with industry norms, being slow to fill vacancies on its board of directors and keeping information from directors that they need to "fully understand" the risks facing the agency.
The audit uncovered many of the same problems identified in an earlier 2009 audit, he said. The report does not cite any specific problem loans, but focuses instead on gaps in the agency's policies and practices.
The bond refinancing of Actis’ acquisition of InterGen Mexico was pitched as a safe play in Mexico’s evolving energy sector. But reform, politics, and the assets’ age, all made the deal a challenging sell.
Michael Whalen – who until May 2017 was vice president of structured finance at US Ex-Im, and more recently senior advisor to executive director Martin Klepper at the Build America Bureau (the USDOT entity responsible for transport infrastructure development projects) – has re-emerged at Berkeley Research Group (BRG). Whalen leads BRG’s energy and infrastructure project finance advisory services, augmenting the firm’s expertise in the financing of global gas, power, renewables, upstream, construction and other capital-intensive transactions.
Jan Kupfer has been appointed head of corporate and investment banking (CIB) for Germany at UniCredit. He is currently global co-head of global transaction banking at the Italian-headquartered bank. Kupfer takes over from Michael Diederich, who was appointed country chairman for Germany after the departure of Theodor Weimer to become chief executive of Deutsche Boerse at the start of this year.
A record amount of renewables corporate PPAs signed in 2017 and the trend looks set to continue. With US PPA structures working their way into Europe, and the rise of zero subsidy renewables projects, PPAs are taking on much more importance for bank credit committees.
The EllisDon Infrastructure MGH Inc consortium has been awarded the $411 million Michael Garron Hospital Phase 1 New Patient Care Tower Project by Infrastructure Ontario. The project includes renovations within the existing hospital and the construction of a new eight-story patient care tower.
A new group at law firm Winston & Strawn has appointed eight lawyers from Norton Rose Fulbright to work in the energy and infrastructure sector at the New York, Washington and Houston offices. D.C.David Gillespie, Patrick Groomes, Michael Loesch, Michael Pikiel Jr. and Michael Yuffee are joining as partners, with Terry Arbit, Brenda Hanzl and Rebecca Limmer as counsel.
Infrastructure Ontario and Michael Garron Hospital (MGH) have selected EllisDon Infrastructure Healthcare as the preferred proponent to design build and finance the Phase 1 New Patient Care Tower Project to be located at the MGH in Ontario, Canada.
Michael Hannibal has joined fund manager Copenhagen Infrastructure Partners (CIP) as a partner where he will be taking a lead role in their offshore wind business. He joins from manufacturer and developer Siemens Gamesa.
Shandong Qingyuan has closed its second benchmark deal in as many years - a $650 million pre-payment facility. The deal is the largest ever structured commodity financing in the Chinese market and the first offshore debt raised by an independent Chinese refiner.
Unable to approve transactions of more than $10 million for over a year now, the two Trump nominees for the new US Ex-Im quorum have sent a mixed message to the big-ticket market. Will it be business as usual again, or is potential Ex-Im president Garrett another disaster waiting to happen?
Glencore looks set to move its global sugar trading desk to Rotterdam from London in early 2018. The move coincides with the retirement of Glencore's long-standing global head of sugar Michael Rembaum.
The ICC Banking Commission has launched a working group to coordinate all work relating to the digitalisation of trade finance. It will be chaired by Michael Vrontamitis, global head of trade, product management transaction banking at Standard Chartered.
Focusing too much on innovation and the introduction of new technology can put banks at risk of neglecting tried and tested processes and technology that could be adapted for fresh uses, according to Michael Hogan, regional head of transaction banking, EMEA at MUFG's core banking unit.
Kernel improved pricing on its annual PXF in 2016 but did not find appetite for upping the tenor. Having done the groundwork in 2016, and following a successful five-year bond issue in January 2017, the prospect of a three-year PXF in 2017 looks promising.
Andrew Kennedy will take up the CFO role and become a member of the Board of Directors. Outgoing CFO Michael Smerdon moves to a new position as Chief Executive Officer of iCON Infrastructure Canada and will remain on the Capstone's Board.
The Chinese renminbi this month dropped from the second to the third most active currency in trade finance, overtaken by the euro. The drop has resulted from a slowing economy in the past couple of years, and could see a re-evaluation of how the country approaches globalisation.
Recent years have seen an enormous amount of optimism towards Africa, both internationally and within Africa. Ex-President of the African Development Bank, Donald Kaberuka, has made reference to Africa’s Lions joining Asia’s Tigers
Iran suffered massively from the economic sanctions imposed by the United States and the European Union. The Iranian oil and gas industry was especially badly impacted, with oil revenues collapsing from approximately $118 billion dollars (2011) to around $42 billion (in 2013).
Despite being below investment grade, Brazil’s largest oil company appears to have retained market confidence amid an ongoing political scandal and repeated allegations of corruption. The appointment of a new chief executive and ambitious plans to improve the company’s debt position may hint at better days to come for the beleaguered giant.
In a world fast moving towards digitalisation, banks are working to adapt the infrastructure of cross-border payments. Partnering with IT players, banks and fintechs can play to their strengths and together construct the payments systems of tomorrow.
BNY Mellon has appointed Hani Kablawi as the new head of Investment Services for Europe, the Middle East and Africa (EMEA). Formerly head of Asset Servicing for EMEA, Kablawi will lead the business strategy for Investment Services in the region and will continue to be based in London. Kablawi will report to Brian Shea, CEO of Investment Services and Michael Cole-Fontayn, chairman of EMEA.
Whether you’re an insurance buyer, provider or simply looking to learn more about political risk and trade credit insurance as a risk management tool, this event is a unique opportunity to network with senior decision makers and discuss the key issues impacting the private insurance industry.
A one-day event bringing together Italian exporters large and small, and the stakeholders that do business with them. Network with your peers and potential clients and uncover the latest trends and opportunities.
The event will discuss trends for financing for energy projects, including power and renewables, in region against a backdrop of market reforms in the energy sector and changing political and economic factors influencing investment in the energy plans of specific countries.