Finacity Corporation has hired ex-Rosemount trade financier Jim Leonard. He joins the firm as senior vice-president, and will be based in Stamford, Connecticut in the US.
He will be responsible for trading of accounts receivables and for expanding the firm’s distribution channels beyond its core securitisation market.
Before joining Finacity, Leonard worked at the trade finance hedge fund Rosemount Capital as director of originations between 2006 and 2008. He then spent two years running his own consulting boutique, focused primarily on trade and receivable finance advisory services as well as forfaiting.
He has also held management positions at several Japanese and US banks.
Speaking to GTR, he says: “I’ve been a fan of Finacity’s business model at least since having reviewed their innovative AOI [Alliance One] transaction when I was at Rosemount.
“And while large parts of the securitisation market have clearly suffered these past few years, the trade receivable securitisation space has been a shining exception. Finacity’s deals have performed exceptionally well throughout the worst of the crisis, and I’m convinced this business has a very bright future.”
His new boss and CEO of the company Adrian Katz adds; “We’re excited to have Jim on board.
“He brings a wealth of experience and relationships in the cross-border trade finance, factoring, supply chain finance and ABL markets. His proven record of success in building and growing businesses within these disciplines will add new depth to the ways in which we support our clients.”