Exiled: Francesca Beomonte & Michiel de Vries
In this special edition, we caught up with two former Global Heads of Export Finance: Michiel de Vries and Francesca Beomonte. As well their respective 'Exiles', we took the opportunity to hear their reflections on a career in export finance.
Welcome to Exiled: Dealmakers on a Desert Island, the podcast where we ‘strand’ our guests on a remote island and ask who from their professional past, present, and future they’d choose to be stranded with. In today’s special edition, we speak with two industry stalwarts who have recently stepped back from their roles as Global Heads of Export Finance: Michiel de Vries, former Global Head at ING, and Francesca Beomonte, former Global Head at Unicredit.
As this is a special edition, we took the opportunity to hear Francesca and Michiel’s reflections on a career in export finance - from standout deals to the future of the market.
Reflecting on relationships
Export finance is a relationship business, and Michiel and Francesca both spoke fondly of colleagues such as Bart Ponsioen, Eriks Atvars, and Angelo Rizutti - all of whom are still good friends. However, it’s not just colleagues that make the industry, as clients have an important role to play as well. Francesca reflected on some of the strong client relationships she’s built over the years, which were vital to closing the most innovative deals.
Evolving transactions
From Caribbean islands and African solar plants to cruise lines and sustainable steel production, Michiel and Francesca have financed some exciting projects in their careers. They noted that the market always adapts as the world changes - for example, defence deals that occurred behind the scenes in the past are taking centre stage in today’s turbulent environment.
Biggest challenges
Covid might have been a significant challenge for the export finance market, and the world more broadly, but Francesca and Michiel agreed that it was the global financial crisis that most shook the industry. That said, whilst other products floundered, export finance proved itself resilient and adaptable in times of trouble.
Handing over to the next generation
Michiel and Francesca both agreed that export finance is one of the most dynamic and exciting areas to work in a bank. Pair that with the opportunity to contribute to impactful projects that drive energy transition and promote sustainable development, export finance offers an excellent career opportunity to the next generation.
Tune in next week, where we’ll be speaking with another guest.
