Working capital solutions provider Demica has established a formal presence in the Americas with the appointment of Andrew Holmes as head of sales for the region.
Holmes joins from Barclays, where he had been since 2009 – most recently as head of trade finance, Americas.
Based in New York, Holmes will be responsible for growing both the Americas business and the team.
“Demica has been very active in Europe – it’s seen a lot of traction with banks and corporates over there, and increasingly it’s starting to see deal flow from the Americas,” Holmes tells GTR, speaking on the company’s move to expand outside of its core market. “They decided that now is the time to strategically go and pursue that deal flow and serve existing customers on this side – but more importantly grow the business.”
He describes Demica’s growth plans as “aggressive”, adding that he will be looking to take on several sales people in the next year, focused across the entire working capital suite of products.
Having worked in bank sales since 2011, Holmes talks about his appreciation for Demica’s different approach and wide range of products. “You can talk to a corporate about all of their working capital needs, rather than a siloed ‘backwards gymnastics’ approach where you have to try to fit their needs into your product. Here we can look at what does the company do and what’s best for them economically – and then execute on all of it.”