Monday, 15 February 2016


The ITFA Board is pleased to announce the following two new members.

Banco Bradesco S.A. (the Bank), incorporated in 1943, is a private commercial bank that operates in Retail Banking, Investment Banking, Corporate Banking, Asset Management and Insurance among other Financial Services. The Bank offers a range of banking and financial products and services in Brazil and abroad to individuals, companies and local and international corporations and institutions.

The Bank operates in two segments: banking and insurance. The banking segment includes a range of banking activities, serving individual and corporate customers in the investment banking, national and international banking operations, and asset management and consortium administration operations. The insurance segment covers auto, health, life, accident and property insurance and pension plans as well as capitalization bonds.

In Europe the Bank operates through its subsidiary Banco Bradesco Europa in Luxembourg, and its branch in London. Bradesco is the 2nd largest private bank in Brazil. It has grown mainly through acquisitions such as: Banco do Estado do Maranhão, Banco Mercantil de São Paulo, Banco Ibi S.A., and the Brazilian operations of Banco Bilbao Vizcaya Argentaria (BBVA), J.P. Morgan Fleming Asset Management, American Express. Bradesco is constantly expanding and has recently acquired the Brazilian operations of HSBC.

Andre de Oliveira Miles will be the main delegate for all ITFA related matters.

Founded in 2007, Scipion Capital is one of the world’s leading investment managers specialising in Commodity Trade Finance across Africa.

Headquartered in key trading centers, London and Geneva, with strategic on-the-ground operations across Africa, Scipion Capital seeks long-term capital appreciation by investing in opportunities across the African continent. It is one of only a handful of Africa-focused managers operating in the multi-billion dollar commodity trade finance industry. Moreover, the UK entity is regulated by the Financial Conduct Authority, AIFMD, and is regulated as an exempt advisor under the SEC.

Scipion Capital was established in anticipation of the effect Basel II regulations would have on Banks’ capital adequacy requirements. It foresaw the implications it would have for banks withdrawing from the multi-billion dollar commodity trade finance market and the need for alternative sources of funding.  Scipion Capital provides short-term self-liquidating asset-backed loans and is a crucial and unique link to global commodity trade - providing additional lines of credit to commodity producers, processors and traders.

Nicolas Clavel will be the main delegate for all ITFA related matters.

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