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HSBC has named Marissa Adams and Florence Tan as heads of global trade and receivables finance (GTRF) for North America and Continental Europe, respectively. Adams (pictured) succeeds Patricia Gomes, who was recently appointed regional head of commercial banking for the Middle East, North Africa and Turkey (Menat). Based in New York, she will report to ...
Trade finance marketplace LiquidX has carried out the first securitisation facility on its platform, a month after it launched an automated digital distribution tool for trade finance assets. The transaction saw LiquidX source and facilitate a US$125mn accounts receivable finance programme for an unnamed company in the technology, media and telecom (TMT) sector. The structure ...
Finastra has appointed industry veteran Michael Vrontamitis to the role of lead industry principal, lending business unit. Vrontamitis’ career in trade finance spans over 25 years, the bulk of which he spent at Standard Chartered. After joining the bank in 1995 as an assistant relationship manager for UK-based oil and gas multinationals, he held numerous ...
MUFG has extended a US$150mn samurai loan to multilateral development finance institution the Eastern and Southern African Trade & Development Bank (TDB). MUFG is the sole coordinator, bookrunner, mandated lead arranger (MLA), documentation agent and facility agent on the deal. A spokesperson for the Japanese lender tells GTR the facility will be used by TDB ...
UK steel industry groups are calling for swift action to remove tariffs on exports to the US after the two governments opened talks, though wider concerns remain about Westminster’s lack of engagement with the troubled sector. A joint statement by the UK and US governments last week signalled the start of discussions on tariffs affecting ...