After 40 years in the market Peter Dornauer has retired from his position as CEO at Atlantic Forfaiting Company, based in Zurich.

He will be replaced by Martin Fankhauser, who worked alongside Dornauer for almost 15 years.

Dieter von Boddien has been hired to take on Fankhauser’s previous position as senior vice-president of the company.

Von Boddien has previously worked at HVB Group, Deutsche Forfait and NordLB. He is also the chairman of Vefi, the association of forfeiters in Switzerland.

“Atlantic is probably the oldest forfaiting house in the market and highly regarded for its ability to absorb riskier trade finance assets, together with Martin and Luciano Bocci I’m very motivated to play an important role in Atlantic’s future,” Von Boddien comments.

“We have known Dieter for over 10 years and we believe that he perfectly fits into our team,” Fankhauser adds.