GMAC Commercial Finance (GMAC CF) has formed a new international group within its Commercial Services Division (CSD).
GMAC CF’s International Group offers global traders new and existing capabilities to:
- Trade on liberal open account payment terms in lieu of restrictive letters of credit (LCs).
- Mitigate the risk of importer insolvency.
- Accelerate cashflow by providing working capital finance for international work-in-progress, inventory and receivables.
- Facilitate financing of just-in-time inventory replenishment needs.
- Permit foreign currency invoicing.
Louis Barone leads the International Group as EVP/international managing director. Barone reports to John Waxlax, president, CSD North America.
Anthony Brown is SVP/managing director, supply chain financing solutions. Brown joins with more than 20 years of international trade finance, operations and marketing experience. He managed international trade finance at Manufacturers Hanover Corporation and MTB Bank, pioneered purchase order financing at Trading Alliance Corp (which he founded) and provided strategic consulting at International Management Consultants as principal owner/operator.
Brown will be involved in all aspects of GMAC CF’s supply chain financial products and will ensure they are meeting the needs of international traders and lending institutions.
Abhinav Saigal is VP/supply chain specialist. He joins with more than seven years experience in business development for various financial and technological firms in the US, UK and India.
His duties include sales, supporting underwriting and solidifying relationships with international banking partners.
Gunter Leukfeld joins as VP/import credit manager with more than 18 years experience in international and domestic commercial lending, 12 of which were with Bayerische Vereinsbank in Germany. Immediately following, he worked in international relationship management for Bank of America Commercial Finance (which has since become GMAC CF). His duties include managing international customer credit underwriting/approval functions and import factoring relationships.
David Nordella becomes AVP/international business development officer. Nordella joined GMAC CF in 2004 with more than 20 years of factoring experience. He has worked for such companies as Heller Financial, Republic Factors and Bank of New York Financial.
His focus will be selling and marketing the supply chain financing product and export factoring services in the western US.
David Fortner, now AVP/international account executive, has experience including a combined seven years as account executive with GMAC CF and Bank of America Commercial Finance in Atlanta. He recently rejoined GMAC CF following a short departure. In addition to managing import client relationships, Fortner will assist in the marketing of GMAC CF’s export factoring services.