European Investment Bank eyes bigger role in trade and export finance The European Investment Bank (EIB) has unveiled plans to expand its role in trade and export finance, in a bid to boost trade with high-risk countries and help Europe compete with China.    The EIB said earlier this month that it will present plans to its board for a pan-European Trade and Investment Initiative, launch…

EU body mulling trade finance support for commercial banks, political risk insurance 





Strategy welcomed by export credit agencies  




The European Investment Bank (EIB) has un...

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Insurer Convex bought by AIG and Onex in US$7bn deal AIG and Canadian asset manager Onex have joined forces to acquire specialty re/insurer Convex in a US$7bn deal.

AIG and Canadian asset manager Onex have joined forces to acquire specialty re/insurer Convex in a US$7bn deal. 



The new ownership stru...

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XDC Ventures to “re-energise” Contour after Xalts sale XDC Network is hoping to “re-energise” trade finance platform Contour after acquiring it from Xalts for an undisclosed amount last week.

XDC Ventures, the investment arm of trade blockchain company XDC Network, is hoping to “re-energise” trade finance platform Contour after acquiring it from Xalts. 



Singapore-based...

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JP Morgan’s new head of export finance aiming for growth JP Morgan’s new global head of export finance, Laura Galvin, has said that her focus is on “growing the business”. 

JP Morgan’s new global head of export finance, Laura Galvin, has said that her focus is on “supporting our clients and growing the business”. 



Galvin joined the lender as head of e...

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HFW expands trade finance team Law firm HFW has hired Marni Isaacson as a Geneva-based senior associate in its trade finance team.   Isaacson joins from Swiss commodity trader Element Alpha, where she was senior legal counsel. Prior to that, she was also an associate at several US law firms.  Qualified in New York and New Jersey, HFW says Isaacson’s…

Law firm HFW has hired Marni Isaacson as a Geneva-based senior associate in its trade finance team.  



Isaacson joins from Swiss commodity trader Element Alpha, where she was s...

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BNP Paribas €190mn receivables fraud linked to ‘new entries, low collateralisation’ BNP Paribas has said a €190mn fraud charge linked to receivables financing in its global markets division is linked to “new entries” with “low collateralisation”.  The Paris-headquartered lender made a €190mn “cost of risk” charge in relation to a specific credit event in its Q3 earnings report published on October 28.  Group chief financial officer Lars…

BNP Paribas has said a €190mn fraud charge linked to receivables financing in its global markets division is linked to “new entries” with “low collateralisation”. 



The Paris-h...

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TotalEnergies criticised for lifting force majeure on US$20bn Mozambique LNG project NGOs claim the decision to lift force majeure on Mozambique LNG poses a major security threat to local communities.

TotalEnergies’ decision to lift force majeure on its US$20bn Mozambique LNG project four years after militant attacks brought it to a halt poses a major ...

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Kroeker appointed chief executive of Mitigram Trade finance platform Mitigram has named Joshua Kroeker as its chief executive and announced the departure of previous leader Pedram Tadayon.   Kroeker (pictured) joined Mitigram in early 2024 as head of Asia and later became chief product officer. The fintech said he “brings a wealth of international experience and a distinguished record in advancing…

Trade finance platform Mitigram has named Joshua Kroeker as its chief executive and announced the departure of previous leader Pedram Tadayon.  



Kroeker (pictured) joined Miti...

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Stronghold creditors owed at least £1.28mn Creditors of collapsed trade finance firm Stronghold Global Finance (UK) Limited are owed at least £1.28mn and may not receive any disbursements from the company’s estate, liquidators have said.   A court placed Stronghold into liquidation last year after it failed to pay debts of £181,000 to seven creditors, including former employees and vendors such…

Creditors of collapsed trade finance firm Stronghold Global Finance (UK) Limited are owed at least £1.28mn and may not receive any disbursements from the company’s estate, liquidators...

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Jaguar Land Rover cover went beyond UK Export Finance risk limits A guarantee provided by UK Export Finance’s (UKEF) last month to Jaguar Land Rover went beyond the export credit agency’s risk limits and underwriting criteria, requiring it to obtain explicit government approval for the deal.   The UK government announced the Export Development Guarantee of up to £1.5bn in late September to help the carmaker…

A guarantee provided by UK Export Finance’s (UKEF) last month to Jaguar Land Rover went beyond the export credit agency’s risk limits and underwriting criteria, requiring it to obtain...

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Industry Perspectives: Inside the EBRD’s Innovation Lab The benefits of trade digitalisation are vast, enabling banks and their clients to transact more efficiently and securely, yet at the global level, progress remains patchy.  The European Bank for Reconstruction and Development (EBRD) has responded to this challenge by developing the Innovation Lab, a first-of-its-kind initiative set up to help its partner banks across…

The benefits of trade digitalisation are vast, enabling banks and their clients to transact more efficiently and securely, yet at the global level, progress remains patchy. 



T...

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Trade Leaders Interview: Heather Crowley, JP Morgan In 2021, JP Morgan created the role of global head of supply chain finance (SCF) to reflect the growing strategic focus on the business, and tapped long-time executive Heather Crowley to lead it. Based in New York, Crowley now oversees the bank’s global trade and working capital product strategy, product delivery and innovation efforts. Her…

In 2021, JP Morgan created the role of global head of supply chain finance (SCF) to reflect the growing strategic focus on the business, and tapped long-time executive Heather Crowley...

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Distribution a “necessity” as capital charges creep up: ICC Trade Register Distributing trade finance products such as supply chain finance and short-term loans will become a “strategic necessity” for banks due to tougher capital requirements set to be phased in by the end of the decade, the International Chamber of Commerce (ICC) has said in the latest iteration of its Trade Register report.   Under global…

Distributing trade finance products such as supply chain finance and short-term loans will become a “strategic necessity” for banks due to tougher capital requirements set to be phase...

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US Exim signals support for Australian critical minerals projects The Export-Import Bank of the United States (US Exim) has signed seven letters of interest (LOIs) totalling more than US$2.2bn to advance critical minerals projects in Australia, as part of a broader deal signed between the two countries this week.  The LOIs were issued to Arafura Rare Earths, Northern Minerals, Graphinex, La Trobe Magnesium, VHM, RZ Resources and Sunrise Energy Metals.  The supported projects…

The move is part of a wider US$8.5bn critical minerals agreement between the US and Australia to reduce dependency on China




The Export-Import Bank of the Unit...

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Momentum on landmark IMO net-zero deal “fading” after talks postponed Progress on shipping decarbonisation could slow after member states voted to push back talks on the International Maritime Organization’s (IMO) net-zero framework, sector figures have warned.  The US had already rejected the draft terms on reducing the industry’s greenhouse gas (GHG) emissions in August, describing the framework as a “global carbon tax on Americans levied…

Progress on shipping decarbonisation could slow after member states voted to push back talks on the International Maritime Organization’s (IMO) net-zero framework, sector figures have...

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Swiss Re names global sovereign and political risk chief Swiss Re has promoted Toby Marshall to global head of sovereign credit and political risk insurance.   Marshall has been a senior trade credit and political risk underwriter at the re/insurer since April 2020.  In the new role, he will remain based in London and deal with Swiss Re Corporate Solutions clients such as multilateral…

Swiss Re has promoted Toby Marshall to global head of sovereign credit and political risk insurance.  



Marshall has been a senior trade credit and political risk underwriter a...

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SecureLend brings AI automation to SME funding and factoring Fintech company SecureLend has launched a 'first-of-its-kind' AI platform designed to automate business lending and working capital workflows.

Fintech company SecureLend has launched what it says is a first-of-its-kind AI platform designed to automate business lending and working capital workflows fo...

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ICC UK unveils plan for global network of “digital trade superhighways” The International Chamber of Commerce UK wants “digital trade superhighways” to replace the current “outdated” corridors.

The International Chamber of Commerce (ICC) UK has called for the creation of “digital trade superhighways” in a bid to bring the current “outdated” trade corridors into a fully digit...

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White & Case names US-based partner in trade practice Law firm White & Case has promoted Jessica Lynd to partner in its trade practice.  Based in Washington, DC, Lynd has worked at White & Case since 2013.   She focuses on US customs law compliance and customs dispute resolution, and also has experience in World Trade Organization dispute resolution and defending trade remedy investigations before…

Law firm White & Case has promoted Jessica Lynd to partner in its trade practice. 



Based in Washington, DC, Lynd has worked at White & Case since 2013.  ...

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Baghdadi Capital takes equity share in Dublin-based trade finance provider Trade-focused fund Baghdadi Capital has completed a strategic investment in Teybridge Capital Europe, a Dublin-headquartered specialist in working capital solutions and trade finance.  As well as taking an equity share, Baghdadi Capital will facilitate an initial funding line of £50mn, with the aim of gradually increasing this to around £500mn.  The investment has been structured…

Trade-focused fund Baghdadi Capital has completed a strategic investment in Teybridge Capital Europe, a Dublin-headquartered specialist in working capital solutions and trade finance....

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HSBC and Siemens land first fully digital cross-border indirect guarantee HSBC and Siemens have carried out the first fully digital, end-to-end indirect guarantee, marking a development in Europe's trade finance digitalisation. 

HSBC and Siemens have carried out the first fully digital, end-to-end indirect guarantee, marking a significant development in the ongoing digitalisation of trade finance in Europe.&n...

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Angola’s €200mn water infrastructure project bags HSBC financing, ECA backing The Angolan government and HSBC have reached financial close on the €200mn water infrastructure improvement ProÁgua project.

The Angolan government and HSBC have reached financial close on the €200mn water infrastructure ProÁgua project, which is set to modernise water supply systems and provide millions ac...

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Trade Leaders Interview: Adoniro Cestari, Citi Adoniro Cestari took up the role of head of trade and working capital solutions at Citi in New York in May this year, following a 25-year career at the bank that began in his home country of Brazil and brought him to the US a decade ago. He now leads Citi’s trade business at a…

Adoniro Cestari took up the role of head of trade and working capital solutions at Citi in New York in May this year, following a 25-year career at the bank that began in his home cou...

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Texel eyes Asia Pacific expansion with double hire Independent credit and political risk insurance broker Texel Group has further expanded its Singapore office.

Independent credit and political risk insurance broker Texel Group has further expanded its Singapore office, bringing in Jamie Stork (pictured) as associate director and Brandon Woo...

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HSBC names Sanchis as GTS sales head, Continental Europe Former HSBC Spain trade finance head Emilio Sanchis Gimenez will lead sales for its Global Trade Solutions business across Continental Europe.

HSBC has announced that former Spain trade finance head Emilio Sanchis Gimenez will lead sales for its Global Trade Solutions (GTS) business across Continental Europe. 



Madrid...

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Keystone Law snaps up Hammond as partner Trade finance lawyer Laurie Hammond has joined London-headquartered firm Keystone Law as a partner.

Laurie Hammond has joined London-headquartered firm Keystone Law as a partner. 



Hammond has 20 years of experience across all areas of trade at major international law firms,...

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Tariffs help boost local lenders’ Asia trade finance share: survey US banks have steadily lost ground in the Asian corporate trade finance market, new research suggests, in a shift driven by the impact of Washington’s tariffs on China and local lenders boosting their capabilities.  The share of Asia-headquartered corporates saying they use a US bank for trade finance fell from 31% to 23% between 2017…

US banks have steadily lost ground in the Asian corporate trade finance market, new research suggests, in a shift driven by the impact of Washington’s tariffs on China and local lende...

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Nexus launches trade credit operations in Italy Nexus is expanding its trade credit operations into Italy with the appointment of former Aon business development manager Federica Paudice.

Nexus Underwriting is expanding its trade credit operations into Italy with the appointment of long-standing Aon business development manager Federica Paudice. 



 Milan-based P...

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EIFO issues first Ukrainian defence investment guarantee The Export and Investment Fund of Denmark has backed a €1.6mn (DKK 12mn) investment from a Danish corporate in a Ukrainian defence company.

The Export and Investment Fund of Denmark (EIFO) has issued its first guarantee to a Danish company investing in the Ukrainian defence industry.  



EIFO has backed a €1.6mn (DK...

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Tirana Bank secures €10mn EBRD package to support trade finance, SME lending The European Bank for Reconstruction and Development (EBRD) has extended a €5mn trade finance facility to Tirana Bank, part of a first-ever €10mn financing package for the Albanian lender.  The package consists of a €5mn limit under the EBRD’s Trade Facilitation Programme (TFP), intended to expand Tirana Bank’s trade operations and promote cross-border activity in…

The European Bank for Reconstruction and Development (EBRD) has extended a €5mn trade finance facility to Tirana Bank, part of a first-ever €10mn financing package for the Albanian le...

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