WestLB’s Pablo Gloggler has been seconded to Buenos Aires, Argentina, for a period of one year to focus on the development of forfaiting business in various South American countries including Argentina, Uruguay, Chile and to a lesser extent Peru, Ecuador and Colombia.

Aside from the fact that Gloggler is an Argentine national and this move allows him at least a temporary return to his homeland, the bank feels it also positions WestLB strategically in the marketplace, thereby enabling it to capitalise upon increased business development in the region.