Albert Maasland, CEO of Crown Agents Bank, talks to GTNews about the future of SWIFT gpi and Ripple, noting that both are “obviously two key players” in the cross-border payments space.
To read the full article, please click here.
In its latest move, Crown Agents Bank has appointed David Bee in the newly created role as Head of Global Markets. David joins from Lloyds Banking Group, where he served as Head of Offshore Financial Markets & Institutional FX Sales. He has previously held senior positions at Citi, Deutsche Bank, and Standard Chartered.
“It’s exciting to be working for a bank with almost two centuries of history, with extensive access and a trust factor in markets that often have few, if any, international bank service providers. The bank is now growing very rapidly with enhanced infrastructure, expertise and relationships, and is continuing to upscale. Most of all, I look forward to working with the team and partnering with colleagues across the bank as we strive to reach our full potential”, said David.
News of the appointment has been covered by Profit & Loss, TXF, Global Banking & Finance Review, FTSE Global Markets and GTR.
The countries of East Africa – led by Kenya and Ethiopia – need to integrate. In an article for Banker Africa, Commerzbank’s regional head argues that they can do so by investing in transport, energy and customs infrastructure.
The problem of unfinanced trade is nothing new in Africa. In an article for Euromoney, Duarte Pedreira, Head of Trade Finance at Crown Agents Bank, warns that the “real issue” underlying the African trade finance gap is that “Banks are moving more and more towards financing the same counterparties, which is creating concentration risk. Whilst banks don’t want to lend to African commodity producers or importers, they happily lend to large commodity traders, who then undertake the lending to these entities themselves.”
Yet the outlook for trade is “far from uniformly bleak”. In emerging markets, “niche players are stepping into the void created by de-risking among large banks by supporting due diligence-led financing in countries ranging – in the case of Crown Agents Bank – from Sierra Leone and Gambia to Malawi and Mozambique.”
The feature focuses on addressing the “gaps” in global trade finance – the considerable amount of trade that remains unfinanced around the world. “We should all be looking for ways to fill these gaps because trade creates jobs,” says Geis. “But as much as two thirds of the unmet demand is accounted for by SMEs in remote regions of emerging markets without the creditworthiness or collateral to make them bankable.” Yet Geis remains upbeat for the future. “Trade is like water: it will always find a way around obstacles.”
EMpowerFX provides clients with direct access to real time quotes for well in excess of 500 emerging and developed-market currency pairs. The platform’s launch was covered across the specialist financial and foreign exchange press, including FX-Week, Forex News, Treasury Today, Profit & Loss, COVER South Africa, Institutional Asset Manager, Modern Ghana, FTSE Global Markets, Global Banking and Finance Review, Banking Technology, and Caribbean News Now.
Despite sluggish global trade, an increasing number of European corporates looking to expand their operations internationally is driving demand for trade finance. The best opportunities for growth are in high-potential emerging markets in Asia and Africa, yet volatility and risk, along with dense regulatory and compliance procedures, pose significant challenges.
In order to meet these challenges, UniCredit’s Thomas Dusch and Harald Schwendtner, Co-Heads of Global Transaction Banking Germany, explain in ICC Germany Magazine that European corporates will have to turn to traditional trade finance and working capital management techniques to mitigate the risks of unfamiliar counterparties and stabilise their supply chains. Elsewhere, corporates must lean on the local expertise of their banking partners to navigate the complex emerging-market regulatory environment.
To read the full article (in German language only), click here (page 38).
Substantial shifts in global trade flows have led to increased volatility and risk for corporates trading in the emerging markets, says Katharina Michael, Head of Trade Finance Sales Germany at UniCredit in International Trade Magazine. Collaboration and digitalization are therefore crucial to helping banks meet the growing demand for risk mitigation in these regions and ensure their clients are being served – even in the most testing conditions.
For example, the use of syndicated loans is enabling banks to share risks, while wider industry collaboration is bringing various digital solutions and initiatives to the market. Currently weighed down by slow and costly paper-based processes, this shift to digital trade finance processes will help to accommodate the extra demand in emerging markets, with products such as the Bank Payment Obligation and the Electronic Bill of Lading increasing both speed and efficiency in corporates’ financing processes.
The full article was published in the February/March print edition of the magazine.
Albert Maasland is taking up the reins at Crown Agents Bank and Crown Agents Investment Management. Having been non-executive director of the group, Maasland also brings experience from JP Morgan, HSBC, Deutsche Bank, Standard Chartered and Saxo Bank.
FX-MM magazine and Trade & Export Finance covered news of the appointment.