Trade finance advisory house Bon Pour Aval is embarking on a strategic change of direction.
Forfaiting as a standalone product is not providing the volumes requiring the concentration of personnel from a similar background, claims the group’s head, Paul Mills. “We are soon to be joining forces with new partners who are specialists involved in structured trade finance, commodity trading and corporate finance and this process will take a number of months to finalise before the full complement of new partners is incorporated into our structure,” he says. “We anticipate that this new strategy of diversification will take between three to six months to fully implement as new partners fulfil their contracts elsewhere.”
In anticipation of these new partners joining Bon Pour Aval has recently employed two new staff – Greg Warburton who is head of finance and Sarah Harling (ex-Bank of America) who is the new head of operations. David Cooper has recently left the group after a year of sourcing deals for his previous firm Emerging Markets Securities (EMS) through Bon Pour Aval to set up his own business.
“After seven successful years providing new assets for the market we believe that a change of structure is important to survive the new opportunities and challenges facing us today,” adds Mills.