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Leading business finance firm Bibby Factors has promoted Robin Goddard to the position of head of sales at their Bristol-based company.
As a senior member of the management team, Robin will be responsible for overseeing the development of new business opportunities and continuing to build a network of contacts within the Bristol and South West region.
Robin brings to his new role a wealth of banking and financial services experience. He was a business development manager with HSBC Invoice Finance prior to joining the Bibby Group in 2000.
22/05/2003
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Grant Thornton has announced the appointment of leading recovery professional Daniel Smith, as a partner within its Recovery and Reorganisation practice. The appointment takes place with immediate effect.
Daniel has worked in the recovery industry for over 17 years. His industry sector expertise includes healthcare and print sectors. He has a wealth of experience acquired on a wide range of serious fraud cases, including Asil Nadir, and on a number of other high-profile cases including the Maxwell pension fund.
22/05/2003
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The changes in the ownership of Gerling NCM Credit and Finance, a part of Germany’s Gerling Group, will help Clal Credit Insurance expand its overseas business, said Uri Levy, Clal Credit Insurance’s general manager. Gerling NCM owns 20% of Clal Credit Insurance.
22/05/2003
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John Wilde, sales & marketing director of SME Invoice Finance has announced several important new additions to the operations team.
Graham Wigzell has joined SME Invoice Finance as operations manager with over twenty years experience in the factoring and invoice discounting industry. Graham was formerly Regional Manager for the international division of The Royal Bank of Scotland.
22/05/2003
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BCR Publishing Ltd. today announced its plans for the second Receivables Finance International conference for the Asia-Pacific region, following on from the success of the first conference held in Singapore in March 2002.
This year’s conference will be held in a five star hotel in the centre of Bangkok (venue to be confirmed shortly), between 17 - 19 September 2003.
To book a conference ticket or register your interest in this important event, email bangkok@bcrpub.co.uk.
Source: BCR
22/05/2003
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In order to give greater focus and momentum to the growth of its factoring business, Five Arrows Commercial Finance has created a new, specialised division, Five Arrows Factors.
Ian Steward, managing director, said, “I am delighted to announce that Martin Manley will be driving the business forward as head of factoring for Five Arrows Factors. John Skarratt will be responsible for all aspects of factoring operations and Lisa Brownbill and Gillian Farrimond will become our first dedicated factoring new business managers, covering Yorkshire and the North West respectively.
22/05/2003
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Speaking on the fifth anniversary of the formation of the Better Payment Practice Group (BPPG), Small Business Minister, Nigel Griffiths said large firms should stop altering payment terms to the detriment of small suppliers.
Mr. Griffiths said: "Large firms imposing lengthy payment terms hit small suppliers. While things have improved, late payment is still a problem that can have a crucial impact on the survival of a small business. More large firms need to learn to play fair."
21/05/2003
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Coface has released figures for Q1 2003 and analysis by activity and by country. Consolidated turnover has risen by 16.4% compared to the first quarter of 2002. Like-for-like growth stands at 10.6%.
21/05/2003
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The Federation of Malaysian Manufacturers (FMM) has proposed that banks should offer alternative forms of collateral for small- and medium-sized enterprises (SMEs), which could include one or a combination of the following:
Confirmed sales proceeds;
Factoring, allowing SMEs to factor invoices at identified financial windows;
Guarantees from purchasers;
Second charge on property or assets;
Feasibility studies by pre-agreed consultants or special unit; and
Guarantees from directors or holding companies.
21/05/2003
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The swift end to the Iraq war has brought forward opportunities for the re-establishment of world economic growth, which has been in the doldrums over the last 12 months. Despite this gloomy environment, the UK economy seems to have performed relatively well through 2002, in comparison with its European neighbours. This is according to the latest Economic Update report (May 2003) from GERLING NCM, one of the world’s leading credit insurance and receivables management companies.
21/05/2003
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The market for factoring and invoice discounting in Europe is now worth around Ђ475 billion, according to the International Factoring Group. A financing solution traditionally associated with smaller companies, invoice discounting is a growing industry, funding increasingly large and sophisticated transactions.
Louise Cowley looks at what this type of debt offers the buyout market. Go to factorscan.com, Articles section to read the full article.
Source: European Venture Capital Journal
20/05/2003
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The programme is a national marketing initiative that brings export financing services to small- and medium-sized (SME) US companies through cooperation with state and local government offices and private sector organizations.
20/05/2003
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In April 2003 the Bank of England published its tenth annual review on finance for small firms. As always the report raises important issues regarding the availability of finance to SMEs and also highlighted concerns as to the impact of EU directives on the costs of capital for SMEs. OFEX [see footnote] has responded formally to the report and will be meeting with Officials from the Bank to discuss their report and its response. A copy of the report can be found on the Bank's website at www.bankofengland.co.uk/fin4sm10.pdf
20/05/2003
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The Federation of Thai Industries (FTI) has signed an agreement with the Small and Medium Enterprise Development Bank of Thailand to co-operate in the bank's financial support programme for small businesses.
SME Bank president Samran Bhuanantanondh said the FTI would screen and propose lists of promising candidates for loans. They would be eligible to receive loans within one month, faster than under the normal procedure.
20/05/2003
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The repercussions of Resona's partial nationalisation are likely to be felt throughout Japan's regional economies, where the bank had built its foundations. Resona's biggest business in the regions was providing small- and medium-sized companies (SMEs) with loans. In January, Lehman Brothers securitised Y28.8bn (US$247m) in loans made by the bank to 483 Osaka SMEs.
Analysts said the hardest-hit region will be Kansai, an area that encompasses Kobe, Osaka and Kyoto, due to Resona's overwhelming presence there, with about 330 branches.
20/05/2003
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