Demica has hired Peter Bousquet as director of working capital solutions.
According to the company, a specialist provider of working capital solutions, the hire is part of its strategy to “further expand and strengthen its coverage of corporate clients and key business introducers”.
In his new role, Bousquet will focus on growing the company’s telecommunications financing solutions to meet the working capital demand arising from the rapid growth in cloud-based products.
He joins from the Pan European Asset Company (PEAC) where he was director of corporate business development. He has previously held senior business development positions at JP Morgan, Lloyds Bank and GE Capital, focusing on structured finance transactions.
The appointment comes just weeks after Demica announced it had entered a partnership with Wyelands Capital, which will see the specialist financier enter the inventory finance space to provide “inventory-led working capital solutions to industrial and trading businesses in the UK and globally”.
According to Maurice Benisty, the company’s chief commercial officer, Demica is currently implementing supply chain finance programmes with an expected asset base of US$5.2bn across both bank and corporate clients.
Benisty joined Demica in October from Wells Fargo to focus on new customer acquisition and growing the company’s geographical footprint.