GTR US 2020 Summary Webinar: Assessing US trade in the new normal
May, 27, 2020
May, 27, 2020
Following the postponement of GTR US 2020 in Chicago due to the coronavirus (COVID 19) outbreak, this interactive webinar provided the opportunity to reflect on some of the key themes that were due to be covered and consider the implications of the pandemic for US trade and broader economic landscape.
Discussions seeked to encourage maximum engagement between participants, allowing key market stakeholders to have their say and to bring the trade finance community together in these most challenging of times.
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How banks are going digital to manage Covid-19
US-China friction persists as politics meddles with Covid-19 supplies
ICC trade register reaffirms trade finance’s low risk profile in face of predicted Covid-related defaults
Hosted by: Shannon Manders, Editorial Director, GTR
How are corporates’ trade financing and risk management strategies responding to the crisis? How has trade finance performed in terms of its availability and pricing relative to other sources of credit? What of the credit insurance market’s response to the coronavirus outbreak?
Gary Mendell, President, Meridian Finance Group
Jonathan Richman, Managing Director, Head of US Trade Finance & Working Capital, Santander Corporate & Investing Banking
What have been the principle pressures placed on supply chains, and how robust have they been found to be? How far has demand for and supply of goods rebounded in markets such as the US, China and EU after initial market shutdowns? Which physical trade bottlenecks are emerging due to restrictions on movement? How are these being overcome?
Anil Sebastian, Director, Devices Supply Chain & Analytics, Microsoft
How have challenges around the movement of goods and documents impacted physical trade and supply chain financing? To what extent have digital trade finance lines fared better in comparison to traditional documentary transactions in the current climate, and which solutions can be utilised in short order for an immediate boost to business continuation? Could the pandemic act as a catalyst for a cultural shift toward rapid digital adoption?
Alisa DiCaprio, Head of Trade & Supply Chain, R3 CEV
Inwha Huh, Partner, Banking & Financial Markets, IBM Global Business Services
Joon Kim, Global Head, Trade Finance Product & Portfolio Group, Treasury Services, BNY Mellon
Does trade disruption related to Covid-19 further emphasise the need for more localised, less complicated supply chains? Which challenges are mounting for lenders? Are alternative financiers/ funds experiencing greater demand? Has the pandemic taught us anything about supply chain vulnerabilities – and SCF challenges – we didn’t already know?
Steven Lotito, Head of Trade Finance, North America, Transaction Banking Americas, MUFG Union Bank
Sunil George, Head of Structured Trade Finance, North America, Louis Dreyfus Company
Patricia Gomes, Executive Vice-President, Regional Head, North America, Global Trade & Receivables Finance, HSBC
Gary Mendell is President of Meridian Finance Group, a company providing credit, insurance, and trade finance tools that companies use to expand their U.S. and international sales. A graduate of the University of Pennsylvania in 1976, Gary has over 40 years of experience in domestic and international sales, distribution, credit, and finance. Prior to Meridian Finance Group, he held positions managing U.S. and export business development for companies in the pharmaceutical, aerospace, and plastics industries. Gary has received the President’s “E” Award and currently serves on the federal government’s Trade Finance Advisory Council.
Jonathan Richman currently heads the US Trade and Working Capital business for Santander in the U.S., which includes its Lending, Letter of Credit, Receivables, Supply Chain Finance, and Trade Funding activities. Jon was brought in to help fulfil Santander’s ambitious growth plans for its trade finance business globally and its corporate and investment banking business in the U.S. For the ten years prior to joining Santander, Jon was with Deutsche Bank and held responsibilities that included the running of its trade finance business in the Americas. Jon was also with Standard Chartered Bank for over twenty years, which included senior positions in London and Hong Kong – the most recent of which was as Head of Transaction Banking for North Asia.
Anil Sebastian has spent most of his career at Microsoft and has helped design the downstream supply chain for products such as Surface and Xbox. He also spent an exciting year at Google's X Research Labs, where he was responsible for developing a logistics and distribution network for Project Glass. Anil received his Bachelor’s degree in Engineering from India before completing his Master’s degree specialising in Supply Chain and Sustainability Studies. Anil is passionate about helping launch products that significantly improve the lives of people.
Alisa DiCaprio is the Head of Trade and Supply Chain at R3 in New York City. In addition to strategy, she also covers trade governance and global standards initiatives. She joined from Asian Development Bank where she was a senior economist working on digital trade, trade finance and innovation. She has also worked in both the public and private sectors on export promotion, trade negotiations, and labor issues. She co-chairs the BAFT Innovation Council and chairs the FinTech working group for the US Department of Commerce’s Trade Finance Advisory Council. She is also co-chair of the ICC Digital Standards Working Group’s engagement committee.
Inwha Huh is the Practice Leader for Banking & Financial Markets, Cognitive Process Transformation, covering key areas of transformation across corporate & investment, retail and transaction banking. Prior to joining IBM, she was the EVP & Global Head of Structured Trade Solutions at HSBC based in Hong Kong and was the Head of Global Trade Finance for HSBC North America. Prior to that, she was at GE Capital where she was the MD, Global Head of Capital Markets & Business Development, Working Capital Solutions. She has also held various leadership positions in syndicated loans at Deutsche Bank and JPM Chase since 1996.
Joon Kim is the Global Trade Product and Portfolio group manager in the Treasury Services Product Management group. In his current role, Joon is responsible for managing, developing and executing Trade Product and Distribution strategy, working with all Treasury Services Global Market segments and Global Sales organizations to grow revenues and ensure risk and compliance measures are met. Joon has held various senior positions at Standard Chartered Bank and American Express Bank, most recently as Managing Director and Head of Transaction Banking Sales for Corporate and Commodities for the Americas region. His various experiences include leading Trade Sales, Trade Product Management and Relationship Management teams, with an emphasis on development and sales of trade finance, supply chain financing, receivable services, trade processing and cross-border cash and liquidity management solutions to global financial institutions and corporations.
Steven Lotito is Managing Director and Head of Trade Finance in Transaction Banking of the Americas for MUFG Union Bank, N.A. In his role, he manages the sales and product management organizations responsible for advising the Bank’s client’s in the Corporate, Commercial and Asian Corporate Banking teams in North America navigate some of the most important trade markets by delivering timely information on international markets, bring innovative products to market, provide trade financing solutions, and, risk management strategies.
Sunil George is currently heading the Structured Trade Finance activity of the North American region for Louis Dreyfus Company based in Wilton, Connecticut, USA. Prior to moving to the US in Jan 2016, Sunil had handled and spearheaded various activities such as Trade Finance, Structured trade finance and risk management for Louis Dreyfus Company for their Middle East and African operations based in Dubai. He has been with Louis Dreyfus Company since the beginning of 2009 and has played a vital role in growing and supporting the business operations in the MEA region along with the regional and global team.
Patricia Gomes is Head of Global Trade and Receivables Finance (GTRF), North America for HSBC. In this role, she is responsible for leading and managing the GTRF business across Commercial Banking and Global Banking clients. With 20 years of experience in banking, Patricia joined GTRF from the Financial Institutions Group (FIG), a line of business within HSBC’s Global Banking and Markets division, where she was Head of North America. Patricia is a member of the Board of Directors for the Bankers Association for Finance and Trade (BAFT) and sits on the BAFT Global Trade Industry Council.
Shannon Manders is the Editor of GTR magazine, the world's leading international trade finance magazine. She has extensive experience in moderating discussions, both at GTR’s own conferences and also at a range of other industry events hosted by the likes of the ICC, IFC and SWIFT (Sibos). She also regularly covers stories from international locations, and has hosted numerous roundtable discussions and webinars. Shannon completed her degree in South Africa, and worked in the publishing industry there for five years before joining GTR in January 2009.
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