Fimbank has launched into the Greek market and appointed Demetris Zouzoukis to head up its operations.

Fimbank group president Margrith Lütschg-Emmenegger says to GTR that the move was due to the potential in the market for bridging limitations which businesses are currently facing. She says: “Fimbank’s presence in the Greek market will enable it to provide factoring, forfaiting and other alternative trade finance solutions in support of Greek companies during these challenging times.”

Zouzoukis is to be joined by three new colleagues at the Athens branch and will target corporate clients and facilitate trade finance and banking solutions. It will focus on international as well as domestic trade.

He previously managed forfaiting and factoring operations at Eurobank Factors and Marfin Factors and Forfaiters. He has served as an executive board member of the International Forfaiting Association (IFA – now ITFA) for the past five years.

George Goumassis, Michael Michaelides and Kostas Georgakopoulos join the new Hellenic team from the Greek corporate banking and commercial finance sector.

All three have worked for Marfin Factors and Forfaiters, with Goumassis, Michaelides, and Georgakopoulos recently serving as head of international factoring, credit manager and deputy manager of domestic factoring respectively. They have all previously held senior roles at Eurobank Factors.

The news comes a week after Fimbank announced it had sealed a deal with MAS Factoring for Growth to support the offering of services to Spanish exporters.