FCI and IFG agree to create One Voice for the Receivables Finance and Factoring Industry

 The association will be run by a single Secretariat, managed by Mr. Peter Mulroy, Secretary General and Mr. Erik Timmermans, Deputy Secretary General. The association will have 14 full or part time staff, dedicated to the growth of open account trade finance. They come from 11 different nationalities and operate out of 6 countries in 3 continents.  At the present time, the combined new organisation has four primary regional chapters: Asia Chapter run by Mr. LEE Kheng Leong based in Singapore; Latin America Chapter run by Mr. Alberto WYDERKA based in Buenos Aires, Argentina; Central & Eastern European (CEE) Chapter headed by Simon Peterman based in Ljubljana, Slovenia and an African Chapter headed by Mrs. Kanayo AWANI, Director Trade Finance and Branches of African Export-Import Bank based in Cairo, Egypt.  The governance will be assured by a single Executive Committee, ten members coming from FCI and four from IFG.

Michel Leblanc, Deputy VP, National Bank of Canada and the newly elected Chairman of FCI remains confident that this is a fantastic start to a bright future for our industry.  He further stated that the combined members will receive many important benefits, including:

• Increased country coverage in over 90 markets to generate increased cross border business
• A larger trade network with over 400 members
• The creation of a worldwide standard on cross border factoring for the entire industry
• A broader education offering supporting all members
• A wider product range to enhance the client’s open account trade finance needs
• Increased focus on the development of factoring in the emerging markets
• Enhanced lobbying and education to regulators and central banks around the world
• Greater number of regional factoring promotional events worldwide

Mr. J?rg Diewald, chief commercial officer of GE Capital Bank Germany and the newly elected chairman of IFG states: “This new combined group will unite the best of each of the forerunner organisations. Together we can build on each other's strengths and capabilities. We will at last be able to speak to regulators and promote our Industry with one single voice. Now the work begins to make it happen!”

Here you will find a member list of the combined organisation as per 1^st of January 2016

Please contact the FCI or IFG Secretariats for more information:

Источник: Factors Chain International