Ecoban Finance Limited LLC, the New York-based international trade finance company, has announced that its London-based principal, Peter Belmont, has decided to retire as of June 30, having reached the age of 67 – “in order to spend time on personal matters and do the things he has always wanted to but never really had time for”.
It is quite likely that Belmont will remain involved in the business world to a certain extent with some advisory and consultancy work (including for Ecoban), and non-executive board positions.
Following on from this decision, Ecoban has decided to close its London office from June 30. Business and relationships managed by London will become the responsibility of the four remaining Ecoban principals in New York.
Ecoban’s traditional business of engineering transactions for the financing of international trade, as well as working within bilateral treaty based international payment “clearings “on behalf of clients, will continue. The business model is being expanded to provide a new emphasis on advising US-domiciled asset backed financiers on the structuring of transactions based on the accounts receivables of Ecoban’s clients arising from their international and domestic US sales.