Ex-BNP Executives Plan Commodity Trade Invest for Merchant Loans

Jacques Begle and Philippe Steiner, formerly of BNP Paribas SA (BNP), are starting a company to help bridge a gap in loans for smaller commodity merchants after banks stepped up lending rules because of new regulations.

Geneva-based Commodity Trade Invest LLC will structure trade finance deals for Swiss funds, individual investors and trading companies, said Begle, former co-head of trade finance at BNP. It will target borrowers with revenues of $50 million to $500 million and will focus on coal, metals and oil products from the Commonwealth of Independent States, he said.

“There seems to be quite a lot of interest from both sides,” Begle said in a telephone interview yesterday. “The deals are here. Our main job now is to find investors, willing to give us a mandate to structure deals for their account.”

Begle, who left BNP in November after 30 years at the bank, said CTI will help find investors for standalone transactions. Steiner was previously a relationship manager for commodity finance at BNP.

To contact the reporter on this story: Maria Kolesnikova in London at mkolesnikova@bloomberg.net

To contact the editor responsible for this story: John Deane at jdeane3@bloomberg.net

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