The Institute for Factors and Discounters (IFD) has elected Mr Greg Charlwood as
chairman for 2004/05.
Mr Charlwood is managing director of Bibby Financial Services Australia and
succeeds Mr Tim Quilty of the Commonwealth Bank.
The IFD was formed in 1994 to represent the major providers of the fast growing
financial services of factoring and discounting.
Mr Charlwood noted that in 1994 the annual turnover of the Industry was A$3billion,
whereas in the current year it will exceed A$25 billion. Over the decade the Industry
has consistently achieved annual growth in turnover of around 30 per cent.
“Already considered mainstream finance in the UK and Europe, factoring and
discounting is among the fastest growing cash flow solutions for Australian and New
Zealand businesses,” Mr Charlwood said.
