BAFT and International Chamber of Commerce Banking Commission Announce Cooperation Agreement
Apr 28 14
BAFT and the International Chamber of Commerce Banking Commission announced a cooperation agreement to improve consumer services and strengthen the global voice of the industry. One of the main objectives of the agreement is to streamline certain workflows across both organizations and leverage each other's strengths. Initial areas of cooperation will include: establishing global supply chain finance definitions; adopting standardized industry documentation, including the BAFT Master Loan Agreement and the ICC Rules for Bank Payment Obligations; increasing awareness of industry initiatives, such as Sustainable Trade Finance; and coordinating industry surveys. Through this unique partnership, ICC and BAFT will be able to come together and collaborate on facilitating domestic and cross-border trade by harmonizing definitions and business practice. The BAFT Global Trade Industry Council and ICC Banking Commission Advisory Board will also jointly discuss other opportunities for collaboration on trade finance industry needs. Each organization will continue to pursue core initiatives, and will coordinate efforts where there is common interest in order to achieve a better outcome for the industry.
BAFT-IFSA Elects New Board for the 2014-2015
Jan 22 14
BAFT-IFSA announced its newly elected board for the 2014-2015 year at the association's Global Annual Meeting in London on January 20, 2014. Newly elected board officers include: Vice Chair: Sara Joyce, Bank of Montreal, Secretary/Treasurer: Michael Quinn, J.P. Morgan, Other directors include: John Ahearn, Citi, Kimberly Burdette, PNC, Tod Burwell, BAFT, David Cruikshank, BNY Mellon, Mark Garfield, Zions, Alexandra Holcomb, Westpac, Peter Knodt, Deutsche Bank, Chris Lewis, Wells Fargo, James Peterson, Northern Trust, Vinnie Raniere, Lombard Risk Management, Victor Sastri, Bank of Tokyo-Mitsubishi UFJ Ltd., Dan Scanlan, Standard Chartered, Craig Schurr, First Merit Barry Tooker, Clear2Pay, Ian Toone, RBC, Alain Verschueren, BNP Paribas, Eszter Wijkman, SEB, Jeremy Wilson, Barclays, Stephanie Wolf, Bank of America Merrill Lynch, Andy Wright, Royal Bank of Scotland.