ifg newsletter

8/6/2019 IFG Newsletter

1/14

News

ConneCtingandsupporting

he CommerCial FinanCe industryWorldWide

Contents

IFG wsl dCb 2010

1. Chairman of the IFG Board,

Peter Ewen................................................. ...........2

2. Secretary General,

Erik Timmermans........................................3

3. IFG Consultant,

John Brehcist.......................................................4

4. IFG Annual Meeting

Madrid............................................................................ 5

5. IFG International

Managers Club...............................................6

6. Education

and Events diary..........................................9

7. Member Offers..........................................10

8. New member:

FactorRus...............................................................12

9. New Member: Santander

Commercial Finance..........................13

10. IFG contact information..... ....14


2/14

peter eWen

the ChairmanoFthe iFg Board

wsl dCb 2010

1. Chairman of the IFG boar,Peter en

Anotheryearisdrawingtoaclose,andasthenewly electedIFGChairmanit ismytasktorefectonthelast12months,andocourselookorwardto2011.

First, the highlight o my year was tohavethehonourobeingelectedasyourchairmanandIwilldomyutmosttorepayyour trust. Cengiz basaran isa toughacttoollowandItakethisopportunitythankhimorallhishardworkduringhischairmanship.

Whilst this year has been notably lessturbulentthanattheheightothecrisis,recent events inEurope have remindedus we cannot be complacent. At ourexcellent Annual meeting in MadridDanielNaviaoBBVAResearchobservedthatitisstillunclearwhethertheUSandother growth economies can maintainthecurrentimprovement.Conditionsarelikelytoremainchallengingorthenextyear,orusall.

One o my principal concerns in 2010has been the enduring scarcity otraditional bank nance or SMEs. Thiswas highlighted by a recent surveycommissionedbyVentureFinanceamongtheUKsaccountantsanddebatedwithinourFinancingBritainsGrowthThinkTank.IbelievethisistrueomostdevelopedanddevelopingeconomiesandpresentsawonderulopportunityorIFGmemberswho can support SMEs through invoicenance,whichissustainable,providesourclientswithcertaintyandisavourabletoourparentBanksbalancesheets.Ialsobelievewehavearoletoplaytosustaingrowthwemusthelprestorecondenceandtrustinthenancialsectoroasawhole.

Notwithstanding the challenges o thecurrenteconomicclimate,thereareplentyo opportunities. As Cengiz remindedusattheAGM,thepotentialmarketorourindustryisworth$15trillion.TowinoursharewehavetoocusonthethreepillarsotheIFG.

Therstotheseiscontinueddevelopmento education and training, particularlythroughtheIFGAcademy.ThisiscrucialintheaceotheincreasingcomplexityandregulationromBasle3andother

sourceswithwhichourmembershavetodeal.

This will also assist us in developingourcentralpillar,thetwoactorsystem,where we are committed to obtaininga greater number o active members.Its worth noting that, at the end oNovemberonatwelvemonthbasis,thetwo-actor turnover has increased by33.4%toreachalmost3billionEuro.Notonlythat,ournewmembershavestartedslowlybutsurelytodevelopthispartotheirbusiness.Followtheirexample!

Finally,thirdandnotleast,weneedtocontinue to pursue our networking andlobbying activities and links with likemindedassociations.

These threecore pillars dierentiate usromotheractoringorganisations.

TothisendIextendawarmwelcometoour new members! Please spread thewordandletshelpEriktogetmanymore

new members in 2011! As two actormembersletusalsomakeapledgetoincreaseourIFGtwoactorbusinessin2011!!

2011willbeanexcitingyearwithmanyexcellenttrainingandnetworkingevents(or example the IFG Academy whichwillrunagainthroughtheyear2011andthe GM Club which will take place inMarrakeshon3rdMarch2011),whichIurgeyoutoandyourstabeinvolvedin.TheyearwillculminatewithourAnnualMeetingwhichwilltakeplaceinMiami.

To nish, Id like to wish everyone ahappyholidayseasonandaprosperousNew Year. I very much look orward toservingyouasChairmanduring2011.

Peter EwenIFGChairmanManaging Director, Venture Finance

ourthree pillarsoFWisdom

aregoodForBusiness


3/14wsl dCb 2010

2. secretary Genera,rik immerman

No ewer than 12 new members havejoinedIFGduringthelastquarter!Someothemwillintroducethemselvesinthisnewsletter, but o course our memberscanndullcontactdetailsandcompanypresentationsontheprivatepartoourwebsite.Awarmwelcometo:SantanderInvoiceFinance,UK(Santanderdoesntneedanyintroduction!)

Bibby Financial Services Asia, HongKong(welcomebackIanWatson!)

FactorRus, Russia (joint venture oFimbank,TranscapitalBankandIFC)

China Delta Export, UK (oeringFactoring and supply chain FinancesolutionsinChina)

Neurosoft,Greece(ITsolutionssponsoringcompany)

Menaactors, United Arab Emirates(Fimbanksubsidiary)

IndiaFactoringandFinancialSolutions,India(JointventureoFimbank,BancaIFISandPunjabNationalBank)

BancoFinancierodelPeru(partothe

PichinchaGroup)SEBAG,Germany(partotheSwedish

SEBGroup,joiningtheircolleaguesoSwedenandPolandinIFG)

HenanWorldwide/Sinoactoring,China(anewindependentactoringinitiativerom an important trading group inZhengzhou)

Priorbank,Belarus(partotheRaieisenGroupandopeninganinterestingnewcountryonIFGsmap)

LKB Leasing, Latvia (part o the LKBBank, welcome back to Gundars

Peterson!)With these new members, a veryinterestingwindochangeisblowinginthe international actoring environment.Today,IFG iswidely recognized astheleading global organization deendingthe interests o the actoring andcommercial nance industry worldwidewith education, lobbying and industryinormation. Now that this part oIFGs value proposition is on cruisingaltitude,itistimetore-ocusalsoonthe

developmentothetwo-actorbusinessopportunities between members. Andwith the exception o course o thenewsponsoringmember,allthesenewmembershavetheambitiontodevelopimportand/orexportbusinesswiththeir

colleagues in the IFG network. I wishthemallalotosuccess!

Thedevelopmentotwo-actorbusinesswas high on the agenda o both theInternational managers Club in Athensin September and the Annual Meetingin Madrid in October. From both greatevents you will receive a detailedsummaryinthisnewsletter.

Also in September our Latin American

ChapterorganizedaverysuccessulandhighlyappreciatedSeminaronHowtolaunch international actoring activities.Thisseminarwillcertainlybringussomeadditionalmembersandbusinessinthisimportantworldregion.

I also met with CGA in Paris who willendtheirtwo-actoractivitiesinIFGorreasons o cost savings in their new ITenvironment, but they have decided tostayonboard asAssociated PartneroIFG.Thisisagoodexampleothevalueadded by IFG membership in a rangeo areas and not just in the two-actorenvironment.

The rst year o the IFG Academy iscoming to an end and we are alreadypreparing the 2011 edition which willbe organized in Vienna with the kindsupport rom Raieisen InternationalBankwholendustheirtrainingpremisesandhelpingettingveryinterestinghotelaccommodationorstudents.Elsewherein this newsletter you will read moreabouttheIFGAcademyandaboutother

eventsin2011.Registration or our traditional GeneralManagersClub(Thursday3rdMarchinMarrakechwiththekindassistanceromMarocFactoring)willbeopenwhenthisnewslettergoeslive.Dontwaittoolongtoregister;itpromisestobeawonderulevent in a airytale city. A great wayto start the new business year and tonetwork with your colleagues rom allovertheworld!

2010 is almost over. I believe that it

was a challengingbut positiveyearorourindustry.May2011bringyoulotsoprotablebusiness!

Kindregardsandseeyousoon!Erik

erik timmermans

the seCretary general


4/14wsl dCb 2010

3. IFG Acaemy

An intensely cold and snowy Brusselsheld a very warm welcome or theculminatingsixthModuleotheinauguralIFGAcademyon30thNovemberand1stDecember2010.

Forthosethathaveollowedthewholecourseoverthelastyear,theAcademyhasrequiredsignicanteortandinput.Beore attending this last module, thestudentshaveparticipatedinvepreviousintensetwodaysessions(allledbya

select team o Industry proessionals),createdasetpresentationandhavehadtofacevemultiplechoicequestionexams.

This nal module, perhaps the mostchallengingoall,requiredthemtotakeanactivepartinanintensiveteambasedbusinesssimulationexercisedesignedtotesttheiracquiredknowledgeinarealisticenvironment.Smallteamshadtotakethehelm at imaginary actoring companiesandwatchhowtheircombineddecisionsaected their companys perormanceovertime,whilstrealworldcomplications

hadtobeacedanddealtwith.Makenomistake,thiswasachallengingprocessandtheemotionsandstresswerequitereal!Allhoweverrosetothechallengeandthejudgeswereimpressedbytheentrepreneurialspiritandteamworkthatwasevidentthroughout.

Followingtheperormancesdemonstratedinthislastmodule,theEducationCom-mittee,ledbyPeterBrinsley(CommitteeChairman) and Erik Timmermans, wasdelighted tobe able toconer the rstprogramme graduates with the IFG

AcademyDiploma,recognisingtheirveryconsiderableeortsandinput.

Six candidates achieved a pass leveldiploma and a urther six achieveddistinctionlevel;theirnamesarelistedinarollohonourbelow.Specialmentionmustbegiventothetwostudentswhoachievedtheequalhighestoverallscores,Serban Andrei Stoica o Romactor,RomaniaandDavidColeoLloydsTSBCommercialFinanceintheUK.

Having recently become involved withthe Education programme at IFG, I amconstantly reminded o the intensityoeortthathasbeenputintotheIFGAcademy,bothromthestudentsandbytheorganisers and presenters. It reallyhas been an impressive operation andlooking at its proessional content and

delivery, it is too easy to orget thatthisisitsrstyearooperation.Ihaveno doubt the programme will continuetodevelopandgrowinreputationasakeysourceandmeasureoInternationalIndustryknowledge.

AndsothegoodnewsisthatregistrationisnowopenortheIFGAcademy2011programme.ThisnewcyclewilltakeplaceinthehistoricanddramaticcityoVienna,courtesyoRaieisenInternationalBank,

andwillagainbedeliveredbyIndustryexperts who can share their extensivespecialistknowledgewiththecandidates.In turn, the candidates will have theopportunity to meet colleagues romdierentbusinessesoperatinginarangeocultural,legalandregulatoryregimes,developingtheirknowledgeandunder-standing,aswellascreatingapersonalnetwork that will support them in theyearstocome.

I happen tobelieve thatbuildingthesenetworks o the uture senior gures in

ourbusinessesisakeyelementintheongoing growth o the global infuenceand reputation o our Industry - and isthoroughlyworthsupporting.

Accesstothisprogrammeisarealadvan-tageoIFGmembershipandIcommendittoallmembers.

John Brehcist

ohn has recently joined IFG as Consultant and isesponsibleorthecontinuingdevelopmentoourIFG

Academyprogram

Hehastwentyveyearsindustryexperienceandnowuns his Roundwindow consultancy service. John is

alsoanIndependentDirectoroTheNationalFactoringCompany, Russia. He was Head o Strategy andResearchinLloydsTSBCommercialFinanceLtd,JohnhasanMAromOxordandaDistinctionlevelMBAromWarwick.

eduCationiskey

todevelopingtheknoWledge

oFthenextgenerationoFleaders

inourindustry.

John BrehCist

iFg Consultant

IFG Academy - Roll of Honour

Distinctiontopscores

Distinction

Pass

Romania Romfactor Mr.SerbanAndreiStoica

UK LLoydsTSBCF Mr.DavidCole

Germany HSBC Ms.NinaLaufenberg

Spain EuroFactor Mr.Enr iqueSanchez

UK LLoydsTSBCF Mr.MatthewRichards

UK UniversalImpex Mr.BeejChandaria

Finland Pohjola Ms.JonnaFanfani

Finland SEB Mr.SirpaKosonen

Italy IfItalia Ms.RosaCilino

Netherlands IFNFinance Ms.JolandaArp

Netherlands IFNFinance Ms.EsmeraldaWesterborg

Poland MultifactorSp. Mr.MarekKoltun


5/14wsl dCb 2010

4. IFG Annua Conferenceari 2010

a Broadranging

andFoCused annual ConFerenCe

heldin madrid

One hundred and twenty o the mostseniorglobalFactoringandAssetBasedLending proessionals gathered in thehistoric art quarter o Spains dramaticcapitalcityoMadridorthe2010AnnualMeeting o the International FactorsGroup(IFG).

Themeetingmaintaineditswellearnedreputation or oering participants theopportunity to combine expert, up to

date analysis o the industry and itstrends,togetherwiththechancetomeetlike minded proessionals to developexistingandnewbusinessrelationships.

ThemeetingwasopenedbytheChairmanoIFGCengizbasaranwhoremindedtheaudienceothe$15trillionpotentialmarketortheIndustryandIFGsroleinexploiting the opportunity, educatingand training people and deliveringnetworkingeventstobuildrelationships.

ErikTimmermans,SecretaryGeneraloIFGreportedontheprogresstheorganisationhasmadeoverthelastyearandocusedon the wide range o new membersattracted to IFG. These have comethrough the combination o supportingbusiness through the internationalnetwork o two actor business androm knowledge development throughthe Regional chapters and educationalprogrammessuchasthehighlysuccessulIFGAcademy.

John Gielen Independent Chairman otheEUFederationortheFactoringandCommercial Finance Industry spoke othesuccessuldevelopmentandgrowtho the EUF, the body which combinesthe strength o IFG and a range oactoring and trade organisations, tolobby Brussels to raise awareness andinfuenceEUpolicyandlawmaking.

IFGhasourRegionalChaptersandeachleadergaveanupdateontheirrespective

areas (Central & Eastern Europe, Asia,LatinAmericaand Arica). All refectedon the role o their Regions in therecoveryromtheglobalnancialcrisis,with emerging markets leading growth

and all recognised the importance otheirchaptersinbuildingtheIFGnetworktoacilitateglobaltrade.

Theconerencealsogavetheopportunityor a range o senior gure both inand around the Industry to presentand debate the current issues andopportunitiesacingtheGlobalFactoringandAssetbasedLendingcommunities.

The Conerence was interactive; aroundtable discussion session gaveall the opportunity to give the Boardeedback on the Groups activities andareaswhichcouldbedeveloped.ApanelsessionhostedbyBobLeroyoBusinessMoney considered likely developmenttrendswithintheIndustry.Newmembersintroduced their businesses to theGroupandansweredquestionsontheirdevelopmentplans.

TheMeetingalsoheldelectionsorthe

oce o Chairman and Vice Chairman:Peter Ewen rom Venture Finance PlcUKwas elected Chairmanand GerhardPrenneroRaieisenFactorBankbecameVice Chairman. The new Chairman willwork to build and develop the Group,supporting the Secretary General indelivering services to the increasingmemberbase.

John Brehcist

madrid


6/14wsl dCb 2010

5. Internationa anager Cuin Athen

In September IFG held its InternationalManagers Club in Athens Greece. Themeeting started on Monday aternoonandendedonTuesdayaternoon,givingmostattendeestheopportunitytotravelonMondaymorningtoAthensandreturnhomeonTuesday.

Not or me however; as fights romAmsterdam airport only leave in theaternoon, I traveled on Sunday. I donotlikehavingdinneronmyown,soIhadalreadyagreedwithPeterBrinsley,ChairmanotheEducationCommittee,tohave dinner on Sunday night. He sentmean e-mail days beorethe meetingtopointoutwheretogowiththeMetro(new Metro line which was developedor the Olympics held in 2004). I tooktheMetro,butwhilesittingintheMetroIdecidedtoignorePetersadviceandtolookataMetromaptondanexitclosertothehotel.

Believeme,neverignorethehelpoyourInternationalcolleagues,becausewhenIarrivedatthestationnoonecouldpointmeintherightdirectionanddirectedmebackintotheMetrotoollowtheroutewhichwasalreadypointedoutinPeterse-mail!OnceIarrivedattherightMetro

station,IcontactedPeterwhopickedmeupguidedmetotheveryniceEridanushotel,whereIcouldcheckintomyroom.

As to be expected in September theweather was perect and we could sitoutside or dinner andendtheeveningwithadrinkattherootopbarothehotelwithamagnicentviewotheilluminatedAcropolis.

On Monday aternoon we startedthe meeting with a small but highlyexperienced group o 17 actoringcolleagues dealing with internationalbusiness.Aterthekick-opresentationby Erik Timmermans in which he

inormed us about the developmento the International Factors Group andinternational actoring in general, PeterBrinsley presented, on behal o the

Education Committee, the initiativesto support members in their businessdevelopmentbylearning.Heexplainedthe whole range o training acilitiesincluding the well developed IFGAcademy. We discussed several

methodstomakeitattractivetomemberstojointheseprogramsandseminarsandtoincreasethenumberoattendees.

The International Managers Club was held this year in Athens: This is a personal

view from Enrico Bravenboer, International Manager of IFN Finance BV of the

Netherlands

enriCo BravenBoer

iFn FinanCe Bv, netherlands


7/14wsl sPb 2010

Aterashortcoeebreak,allattendeeshad the opportunity to introducethemselves and their companies bygivingatenminutepresentation.Formethis was a perect opportunity not onlyto explain my role at IFN Finance B.V.,TheNetherlands,butalsoourcompanyscurrentpositionunderthenewownershipoDeutscheBankAG.andourutureocuson service development (especially ininternational).Duringallthepresentationstherewasmuchdiscussion,providingoraperectopportunitytolearnabouteachothers markets, activities, expectationsandideas.

Aterthemeetingwehadtwohoursreetime andasI do notliketo stay in myroomlookingatwalls,IwentorawalkexploringthemagnicentcityoAthens,together with Betul Akdil o GarantiFaktoringandJanChristensenoNordeaFinans. During our short tour wehad agreat conversation on our markets anddiscussed how the IFG could t in andwould be the most benecial to ourcompanies.

Intheeveningwehaddinnerattherootop terrace o the hotel with again theunorgettableviewontheAcropolis.

The next morning we continued themeeting with an introduction by Erikas well as Michelle Cardoens on thedevelopment o IFG and its ocus onre-buildingtwoactoractivitiesin2010.Withthisinormationweweredividedinsmallergroupstodiscussthetopicsandtodeneproposalsortheuture.

Ater these group sessions and coeewediscussedtheoutcomesandcreatedideas or Erik to bring to the annualmeetinginMadrid,suchas:

Changes in the Gri and/or Dex tosupportthedevelopmentotwoactoractivitiesThecurrentpricingsystem,wherealso

disputes and new debtors are beingpaidor

I-Exchange;isitutureprooandhastherecentupgradebeenbenecialtoIFGroupmembers

Counter-Party Risk, how to dealwith it especially since two actoringcompanieswentintobankruptcyThe service quality system, does it

refectrealityandisitusedtondyourbestcorrespondentactor?Newproducts,suchasorder/purchase

cover(wherecreditcoveralreadystartsattheproductionphase).

Atermanygooddiscussions,wehadourarewelllunch.

Some people let Athens Tuesdayaternoon and went home; some wentshopping.IwentuptheAcropolis,(onceyouareinAthensthisisadenitemust)andspenttheaternoonsightseeing.


enriCo BravenBoer



8/14wsl dCb 2010

ThenextmorningIwenthomewithlotsoinormationandexperiences.

FormethiswasthebestInternationalManagersClubever,asaresultotheenvironmentinAthens,thehotelandnottheleasttheattendeesandthecontento the meeting. I really elt that we asInternational Managers can make adierenceandcreateaplatorminwhichwecanlearnabouteachother,network

andalsomakechangestotheIFGroup,whicharebenecialtousasmemberstogrow our International Business and toprovideservicetoourclients.

Please be there next year, I denitelywill!

Enrico


enriCo BravenBoer



9/14wsl dCb 2010

6. ucation an ventimetae 2011

GeneralManagersClub Marrakech 03/03/2011-03/03/2011

IFGAcademy-Module1 Vienna 07/03/2011-08/03/2011


Risk,Product&ProcessManagersClub

London 14/04/2011-14/04/2011


InternationalManagersClub Istanbul 26/05/2011-27/05/2011



AnnualMeeting Miami 06/11/2011-09/11/2011


ITManagersClub TBC TBC

HowtodevelopInternationalFactoring:Seminar

Brussels 06/12/2011-07/12/2011


10/14


11/14wsl dCb 2010

7. emerffer

BuildingtWoFaCtorBusiness

opportunitiesand

reWardingsuCCess

SUPPORTING THE GROWTH OF TWO-

FACTOR ACTIVITIES IN IFG

Asadirectresultromsuggestionsmadeat the International Managers Club inSeptember,theboardoIFGdecidedtoapproveaseriesoinitiativestosupportthe growth o import-export businessfowsbetweenmembers:

1)The secretariat will work on a clear

distinction on IFGs website betweenactive and non-active Shareholders&Partners.I amemberismarked asactivethismeansthathehasprovidedinormation on its capability andreadinesstooerexportand/orimportactoringoverthetwo-actorplatorm.This measure will make it easier ormemberstodecidewhichmemberstocontactorbusinessproposals.

2)TheresultsotheyearlyServiceQualityProgramwillbesplitintwoversions.The rst will contain all scores, thesecond will only take into accountthe scores given to correspondentsnot belonging to the same group oFactors. This measure is believed togiveamoreobjectiveviewonServiceQuality.

3)Members who develop their exportactoring turnover will be rewardedwithreeregistrationstoIFGevents:

a.Members whose export businessgrows with more than 25%compared to previous year (inwhichtheirexportturnoverreacheda minimum o 1.000.000) : aree access to next InternationalManagers Club.

b.Members whose export businessgrows with more than 50%compared to previous year (inwhichtheirexportturnoverreacheda minimum o 1.000.000) : a

ree access to next InternationalManagers ClubandareeaccesstonextGM Club.

c.Members whose export businessgrows with more than 100%compared to previous year (inwhichtheirexportturnoverreachedaminimumo1.000.000):areeaccesstothenextAnnual Meeting.

Thesereeregistrationswillbeawardedand communicated at the beginningo each calendar year, as soon asIFexchangestatisticsareavailable.

4)The Board wants to insist amongstall active members to send arepresentativeotheircompanytotheInternationalManagersClub,becausethismeetingisoextremeimportanceorthediscussionanddevelopmentotwo-actoractivities.

5)Andlastbutnotleast,IFGwillincreaseitseortstoassistnewmemberstoget

startedwithInternationalFactoring:a.All new members get one ree

accesstothee-learningcourse

b.ThenewSeminaronHowtostartInternational two-actor activitieswillberepeatedandipossiblealsoorganizedindierentregionsotheworld.

c.Mentoring rom an experiencedmemberwillbepromoted.

For more inormation or suggestions,pleasecontactthesecretariat:

[email protected]

[email protected]


12/14wsl dCb 20102

8. e emer : Factoru

FactorRus LLC is a new actoringcompanyontheRussianactoringmarketounded by FIMBank p.l.c. (Malta), IFC(a member o World Bank Group) andTranscapitalbank(Moscow)asa40-20-40jointventure.ThecompanysoceislocatedinthehistoricalpartoMoscow,notarromtheKremlin.

FactorRus

FIMBank is a leading provider oftrade nance and factoring solutions.Headquartered in Malta, its strategy istofurtherstrengthenitsglobalpresence,with a focus on emerging markets,and enhancing the product range onoffer, namely trade nance, structuredcommodity nance, factoring, forfaitingandsupportbankingservices.Meanwhile,the FIMBank Group has announced anafter-tax prot of USD3.39 million forthesixmonthsended30June2010,anincreaseof16%overtheUSD2.92million

registeredforthesameperiodin2009.Transcapitalbank is one o the mostdynamically developing bankinginstitutionsinRussia,providingallkindsobankingservicesorindividualsandlegalentitiessince1992.TheBanksattentionismainlyocusedoncorporatebankingandactivesupportosmallandmediumsizedbusinessesinallsectorsonationaleconomy and on oering individuallyoriented loans portolio at the mostprotable conditions. Transcapitalbankis a strong private-sector Bank withsupranational shareholders that includethe European Bank or Reconstructionand Development and DEG, oneo Germanys largest government-sponsored development institutions.Transcapitalbank is considered one oRussias most dynamic banks and isranked the ninth most stable nancialinstitutioninthecountry.ItisalsoamongthetoptwentycommercialbanksintradeandstructurednanceinRussia.

IFC,amemberotheWorldBankGroup,

osters sustainable economic growthin developing countries by supportingprivate sector development, mobilizingprivate capital, and providing advisoryandriskmitigationservicestobusinessesandgovernments.

Factoring in FactorRus. As a result othenancialcrisis,nancingorRussiancompanies has become scarce, andFactorRuswillhelpllthisgapwithshort-termunding against receivables. As oH1 2010, actoring volumes in Russiareached almost USD 6.17 Bn but arestillarawayromthevolumeso2008.FactorRusstargetgroupwillbethesmallandmediumsizedbusinesssectoraswell

astopcorporateandlargeretailgroupsinRussia.In2011,FactorRusaimstoenterthetopveleadingprovidersoactoringservices in Russia. Today, thecompanyisabletocarryoutactoringtransactionsin 22 regions o Russian Federation.The company intends to improve theknowledge level o prospective clientsintheactoringmarket,activelyincreaselocal actoring volume and add valueto the Russian market by participatingin domestic and international actoringassociations(AFC,IFG,FCI).

TheFactoringteam:Thecompanysteamgainedprofessionalqualicationsandhasmorethanve-yearsoffactoringindustryexperience. FactorRus team membersare very ambitious, active, creativeand enthusiastic. We are available tocooperateindifcultprojectswherenonstandardapproachesareneeded.

Mr. Melnikov has appointed as CEOo FactorRus LLC. His work experienceincludesouryearsatPromsvayzbank,aRussiancommercialbank,wherehewasresponsible or international actoring.Prior to his appointment at FactorRus,MrMelnikovservedasDeputyHeadoFactoring at Banque Socit GnraleVostok, Moscow, one o the leadingproviders o actoring services in theRussianmarket.

The Companys International Divisionis managed by Ms. Nekhvorosnaya.With our years experience in actoringshehasbeenwiththeCcompanysincestart up, having moved rom OJSC

Promsvyazbank.AtFactorRus,wellbehappytoestablishmutuallybenecialrelationshipswithallIFGmembers.

Corporate prole

mr melnikov

ms nekhvorosnaya


13/14wsl dCb 20103

8. e emer :santaner Invoice Finance

david totney

Santander UK are one o the newestentrants to the Asset Based Financeraternity;havingacquiredtheveyearold independent regional business,Liquidity Ltd, the strategy has been tobuild on this solid platorm, using it asabasetosupportSantanderCorporateBanks UK Invoice Finance service on anationwidebasis.

Since the acquisition, there has beenallothedemandingactivityyouwouldexpect with integration projects andharmonisation programs with systemsintegration and so on. One o theattractionsoLiquiditytoSantanderwasthatwehadastrongmanagementteam,robust operating systems and clearbusinessprincipleswhichdovetailedwellwith those o our new parent. We arecurrentlydevelopingourullAssetBasedFinance solution to include inventory we have already written revolvingtransactionswithFixedAssetbacking.

Ater building a Countrywide newbusiness and client relationship team,one o the rst actions o the newlyowned business was to join theInternational Factors Group. As parto a trulyglobalbank,the advantagesobeingwithinIFGnotonlyenableusto work with other member companiesbutprovideSantanderwithatriedand

tested inrastructure to encourage intra-Santander trade, whilst we ully evolveinto a seamless Worldwide corporatebank.

AlthoughrelativelynewtoSantander,theteamwehavealreadybuilthaveavastamountoexperienceintheInternationaland non-recourse marketplace. AndyDodd, Operations Director and DavidBailey,HeadoOperations,havealreadyattendedIFGorumstobegintheprocessoreintroducingthemselvestooldriends

romaroundthenetworkandarecurrentlylooking at new business opportunitieson three Continents, although, I think itisairtosay,onlyintheearlystagesodevelopment.

Santandersaimistoprovideourclientswith one Relationship Director to actas the ocal point or the delivery oall the various Financial Solutions weprovide.ThisRDsmainaimistoreallygettointimatelyunderstandtheirclientsbusiness,thepeoplebehinditandthemarketstheyoperatein.Oncewehavea good grasp o all this, then we can

work with our client to identiy exactlywhat their nancial requirement is andhowtoprovidethesolution.Increasinglywe are seeing International Trade asthewayUKbusinessisworkingtobeatthe Credit Crunch, using the avourablePoundtotheiradvantage.HavingIFGasavaluablepartoouroverallsolutionwillgreatlyenhanceourvaluetoourclients.

An exciting aspect o joining has beenthe change in the dynamic o IFGs UKmembership. We rmly believe thatSantanderareextremelywellpositionedto exploit the opportunity presentedtousbyourInternationalstanding,ourstrongbalancesheetandourdesiretowrite good quality business. I the UKeconomy is recovering, partially as aresultoInternationalTrade,wewanttoplayanactivepartinthatrecovery.

Ourteamarelookingorwardtoworkingwith all at IFG, our ellow members,associatesandriendsaroundtheWorld

and to meeting as many o you as ispossibleduringthecomingyears.

David Totney

Director, Santander Corporate Bank Invoice Finance.

Santander Invoice Finance


14/14

InternatIonal Factors Groupscrl

Av.R.Vandendriessche,18(Box15)B-1150BrusselsBelgium

Tel:32/2/772-6969Fax:32/2/772-6419

www.ifgroup.com

[email protected]

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