Julio Morejon has joined Commerce Bank in Miami as vice-president, lending product manager. He was previously managing director at trade finance brokerage Global Structured Finance Corp, set up together with James Collins, who has retired from the market.
Morejon will be developing new products in the structured area – both for domestic and international business, as part of the asset products team. Emphasis will be on structuring, buying and finding end investors for assets rather than trading them.
He aims to bring in new relationships for the bank in all areas of trade for Latin American and US customers.
Commerce Bank is part of Venezuela’s Mercantil Servicios Financieros (MSF). Other MSF subsidiaries are Banco Mercantil (Banco Universal) in Venezuela; Banco Mercantil Venezolano in Curacao; Banco del Centro in Panama; BMC Bank & Trust in Cayman Islands; Banco Mercantil Schweiz in Zurich; Merinvest, Brokerage House Investment Bank in Venezuela; Seguros Mercantil that offers asset, life, and health insurance; and Mercantil Inversiones y Valores, the holding of other minor investments.
Morejon sees this MSF connection for Commerce as extremely valuable in building up contacts and presence in the Latin American region. “There is a huge potential to build up the customer base for Commerce Bank in the region and we understand the corporate risks so well,” he says. “We are very relationship-oriented too. We believe in long-term and strong relationships.”