Former Barclays global head of trade and working capital Baihas Baghdadi has founded Trade & Working Capital (TWC), a privately-owned non-bank financial institution.
Speaking to GTR, Baghdadi explains that the new company specialises in structuring working capital solutions that complement the banking product proposition. “We will support corporate clients’ expansion plans and growth by financing their days receivables and/or extending their days payables,” he says.
Baghdadi becomes CEO of TWC and is joined by an advisory board of seven: José Carlos Cuevas, Rafael Elorza, Joaquín Poblet, María Santíso, Luis Pérez, Ricardo Zión and Luna Al Chawa (advisory board secretariat).
The company is headquartered in Spain, which will be its initial focus. An expansion into the rest of Europe will follow shortly.
“I am delighted with the project because finally I can implement lots of great ideas and solutions to corporate clients that banks are unable to take forward given their endless list of constraints,” Baghdadi adds.
Baghdadi has 25 years of corporate banking experience, including a decade spent at Barclays, which he left in August 2018. He most recently served as CEO of the international division of Network Steel Resources Group, a Spanish steel company, which he joined in October last year.