The International Chamber of Commerce (ICC) has created an advisory board and an executive committee to increase its efficiency.
The new advisory board is composed of banking experts whose role will be to advise the ICC on how to respond to market and regulatory demands, while the executive committee’s members are subject matter experts who will be in charge of finding ways to implement new policies.
Tan Kah Chye, chair of the ICC banking commission, tells GTR: “The goal of this general overhaul is to create both the advisory group – senior representatives from various banks to advise the banking commission on general market needs, the vision and strategy that need to be implemented – and an executive committee. The members of the executive committee are subject matter experts, with domain expertise in the area of Basel, compliance, legal, guarantees, letters of credit etc.
“This way we have a proper governance structure with one group advising on the strategy and the other group focused on execution. The two have very different skill sets.
“We should be able to handle a lot more projects and it should improve our speed to market. In recent years we have initiated a lot of changes to improve it but nonetheless it is an area that we are very conscious about, and which we constantly upgrade in order to develop new policies ahead of changing market requirements.”
The ICC banking commission believes the advisory board will help it remain a relevant and recognised authority within the emerging trade industry.
Thierry Sénéchal, executive secretary of the commission, adds: “The banking commission advisory board will not only help us deal with mounting challenges faced by both the industry and policymakers but also to strengthen the co-ordination of stakeholders for greater effectiveness. Overall, the new governance structure will enable the banking commission to add new rule writing, standardisation and policy mandates, making us more innovative and market-driven in response to a rapidly changing economic environment and new industry needs.”
Members of the ICC banking commission advisory board and executive summary are as follows:
• Tan Kah Chye (Chair), global head of trade and working capital, Barclays
• Daniel Cotti, managing director, global trade executive, JP Morgan
• John Ahearn, global head of trade, Citi
• Georgina Baker, director of trade and supply chain, International Finance Corporation (IFC)
• Steven Beck, head of trade finance, Asian Development Bank (ADB)
• James Emmett, global head of trade & receivables finance, HSBC
• Sara Joyce, managing director and head, international financial institutions and trade finance, Bank of Montreal
• Ashutosh Kumar, managing director & global head of corporate cash and trade, Standard Chartered
• Daniel Schmand, managing director, head of trade finance and cash management corporates Emea, Deutsche Bank
• Pierre Veyres, global head of global transaction banking, BNP Paribas
• Dan Taylor, managing director, global market infrastructures, JP Morgan
• Dan Taylor (Chair), managing director, global market infrastructures, JP Morgan
• Tan Kah Chye, global head of trade and working capital, Barclays
• Gary Collyer, banking commission senior technical advisor; founder Collyer Consulting
• Georges Affaki, member of the executive committee and head of structured finance, CIB Legal, BNP Paribas
• Andre Casterman, head of corporate and supply chain markets, Swift
• Neil Chantry, global head of policy and compliance, global trade and receivables finance, HSBC
• Rudiger Geis, managing director, senior product manager trade services, Commerzbank
• Vincent O’Brien, trade finance expert and currently chair, ICC banking commission market intelligence
• Vijay Vashist, managing director and global head, trade and supply chain financing and trade asset management, global transaction services, DBS Bank
The ICC banking commission will add new members in the future to cover new areas of expertise