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SCOR Specialty Insurance has promoted Henry Mumme-Young to global line head of political and credit risk, effective immediately. He replaces Kade Spears, who has left the company. Mumme-Young joined the Channel Syndicate at Lloyd’s of London, part of SCOR’s specialty insurance platform, in 2014 and most recently served as senior underwriter and deputy in SCOR’s ...
Africa Merchant Capital, a boutique private bank, has demerged its trade finance arm following an equity buyout by Zebu Investment Partners (ZIP). The subsidiary, AMCTF, will be led by Anne-Marie Woolley, who has been named CEO. AMCTF is a specialist trade finance business that was founded by the bank in 2016 to provide secure and ...
Australian supply chain finance provider Marketlend is suing its insurer, the Bond & Credit Company (BCC), for A$1.4mn (US$1mn) after it allegedly failed to honour a policy when a Singapore commodities trader went bust. In a document filed in the Federal Court in Sydney on December 14, Marketlend says BCC failed to cover it for ...
Commodity trading giant Gunvor has secured a US$1.1bn syndicated borrowing base facility supporting its global LNG operations, in a deal described by the company as a first of its kind for the market. The facility is structured to support the working capital needs of the Geneva-headquartered company’s LNG activities globally, as well as supporting its ...
HSBC and Walmart have introduced science-based emissions reduction targets into their sustainable supply chain finance (SSCF) programme, which sees suppliers who meet sustainability goals get cheaper financing. Set up in 2019, the SSCF programme for Walmart suppliers was one of the first of its kind. It was developed as a means to support the US ...