Erik Timmermans leaves FCI

FCI announced today in an exclusive statement to trfnews (see below) that Erik Timmermans who was Deputy Secretary General at FCI has left the organisation effective from 1 January. Previously, Mr. Timmermans was Secretary General of the International Factors Group from 2005 until the merger with FCI in 2016. FCI has not yet stated if there will be a replacement to Mr. Timmermans.

“Today we announce that BZIX BVBA, represented by Mr. Erik Timmermans, as consultant will no longer be associated with FCI effective 1 January 2018.  The FCI Executive Committee ensures we meet our objectives and at the same time continue to bring value to our members.  Hence, the Executive Committee approved amendments to the consulting agreements with four FCI consultants, which includes an amendment to the BZIX BCBA consultancy agreement.   

 All parties involved were contacted during the last 6 weeks, and revised agreements were signed by three of the four consultants, with the exception of BZIX BVBA.  The Executive Committee agreed to bring the fee paid to BZIX BVBA in line with market practise based on a market benchmark by the Hay group. Discussions started in this respect. It was our intention to continue negotiations with Mr. Timmermans as legal representative of BZIX BVBA.  This was communicated to him on the 15th December and to be able to change the fees paid to BZIX BVBA, as from 1 January 2019 FCI needed to terminate the contract for the sake of negotiations. Instead of further negotiations, Mr. Timmermans via his company, BZIX BVBA decided to end cooperation between BZIX and FCI effective 1st January 2018.

 We want to thank Mr. Timmermans for his many contributions to the receivables finance industry in general and for helping bring FCI and IFG together in particular.  We wish Mr. Timmermans all the best in his future endeavours.”   

Mr. Çagatay Baydar

FCI Chairman