Abbey set to roll out trade finance division

Abbey, part of Santander Group, is launching its own trade finance division.

The UK-based bank is a complete newcomer to the trade finance market, and is recruiting and promoting its new products.

Paul Nash, director of trade services, established the new business line. His co-director is Jeff Bryant. They both report to David Goucher, managing director, corporate banking.      

Abbey became part of the Santander Group in 2004. Santander has an extensive network of banks in Latin America, and Abbey's new trade business will also be focusing on this region.
Last year, Abbey set up a supply chain and working capital initiative known as 'Supplier Payments". The service had been available through Santander in Spain and Latin America where it was referred to as a "Global Confirming "service.