Jenny Messenger

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…

The demise of the UN-backed Net Zero Banking Alliance (NZBA) has highlighted how difficult it is to create single standards for the global financial sector, the Bankers Association for Finance and Trade (Baft) has said. The NZBA officially shut down earlier this month after members voted to end the alliance and instead use its guidance…

SMBC has appointed Steve Robson as co-head of transaction banking for Europe, the Middle East and Africa (Emea). Robson joins SMBC from HSBC, where he was global head of liquidity for its international wealth and premier banking division. He will be based in London and report directly to Elena Paitra, head of corporate and investment…

Tokio Marine Kiln (TMK), a London-headquartered specialist underwriter, has welcomed James Wilson as head of special risks. Wilson joins from The Hartford, where he was head of political risks, and head of credit and political risk insurance. He reports into Vivek Syal, chief underwriting officer for TMK, and replaces Edward Parker in the role. The…

The results of a digital trade initiative in Africa show the continent has made progress but barriers to paperless trade persist, according to the World Trade Organization (WTO) and the World Bank.  The organisations have carried out digital trade reviews for six countries – Benin, Côte d’Ivoire, Ghana, Kenya, Nigeria and Rwanda – to identify…

Financial technology provider Finastra has launched Trade Innovation Nexus, an integration layer that simplifies access to its platform, as it looks to spur banks to “innovate faster”. Showcased at this year’s Sibos, held in Frankfurt this week, the integration layer aims to improve the interoperability of Trade Innovation, Finastra’s platform for working capital finance. “Designed…

Baft (Bankers Association for Finance and Trade) and other industry bodies have urged EU member states to be consistent in implementing the Capital Requirements Directive (CRD) 6 to avoid disrupting cross-border financial services. CRD6 is the latest iteration of the directive that requires banks and investment companies to put aside capital as insulation against financial…

Société Générale has appointed Zvi Wohlgemuth as global head of development and structured export finance. In the new role, Wohlgemuth will be responsible for the development of Société Générale’s financing and advisory solutions for importers and exporters, the bank says. He will also look to facilitate investments across sustainable development and the energy transition, as…

Robert Parson has joined Sullivan & Worcester as a trade and export finance partner. He moves to the law firm from Squire Patton Boggs and will be based in Sullivan’s London office. Parson has more than 30 years of experience in advising banks, non-bank investors, fintechs, credit insurers and traders on complex cross-border financing arrangements,…

An EU trade initiative is not expected to meet its goal of funnelling 25% of its funding to the least developed countries (LDCs) by 2030, due in part to challenges SMEs face when accessing private sector funds, the bloc’s independent auditor has found. The European Court of Auditors (ECA), which checks that EU funds are…