Global working capital finance provider Greensill has brought in former Australian foreign minister Julie Bishop as a senior adviser.
The ex-politician, who joins via her consulting firm Julie Bishop & Partners, started in the role in December and will also serve as Asia Pacific chair, helping the company accelerate its expansion in the region.
Since opting out of politics last year, following her unsuccessful bid to become party leader and prime minister, she has also been serving on the board of directors at aid contractor Palladium.
Greensill founder and CEO Lex Greensill says: “The ability to draw on Julie’s unparalleled experience and expertise, particularly her international credentials cemented during five years as Australia’s foreign minister, will be invaluable as we continue to unlock capital for businesses and people around the world.”
The firm has been seeking to boost its global presence in the past year, with GTR reporting in January 2019 that Greensill, in a bid to expand globally, had opened offices in Singapore, São Paulo and Johannesburg.
Bishop’s decision to join Greensill comes amid increased scrutiny of supply chain practices in the wake of several high-profile company collapses. Most recently, the Securities and Exchange Commission (SEC) has called for greater disclosure standards around the practice, following concerns over lack of transparency.
In November last year, Lex Greensill penned a defence of the practice, arguing that “any controversy that supply chain finance attracts is centred around how companies account for it”, and that it is an accepted means for big companies to unlock capital and smooth their cashflows, while also letting smaller suppliers get immediate access to capital at desirable rates.