Saturday, 11 October 2014

Message from the New Board Member

Luiz Simione: MD, Global Head of Forfaiting & Risk Distribution, GTRF, HSBC Bank Plc 

I am delighted to be to be appointed to the ITFA Board with responsibility for institutional relations. 

My role is consistent with ITFA’s ambition to become a stronger representative of the Forfaiting and Risk Distribution industry. The aim of the “Institutional Relations” function is to actively cooperate with other subject matter experts and associations (such as the ICC, BAFT and Supranational Institutions such as the EBRD) and share best practices, participate in working groups and coordinate amongst regulators to ensure an outcome that is satisfactory to all industry stake holders (including regulators). 

I am writing to you directly from the USA where I attended Sibos conference in Boston. Most of the participants here articulated the demand for more training in Trade instruments, focusing on the secondary market, and the relevance that regulatory aspects have in their current business environment. Once I had the chance to talk about ITFA and our aspirations to represent even more the Trade Finance market, the reaction was very positive. Though most of participants demonstrated concerns about volumes, margins compression and the macro-economic environment, they still believe that international trade remains a solid proposition for financial institutions and ITFA can assist them developing that business. I am excited about the challenges ahead and will devote all the necessary energy to achieve our objectives. 

With my best wishes,

Luiz Simione

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