The International Chamber of Commerce (ICC) has appointed Daniel Schmand as vice-chair of the ICC banking commission responsible for the newly-created area of supply chain finance.
Schmand will supervise the ICC bank payment obligation (BPO) project that will create a new set of rules for trade finance using the electronic matching of data according to ICC standards.
Schmand was previously head of trade finance and cash management corporate, Emea at Deutsche Bank’s global transaction banking (GTB) division where he was responsible for the global coordination of its trade finance business.
Tan Kah Chye, chair of the ICC banking cCommission says: “As we are expanding our services to supply chain finance, Daniel is ideally positioned to drive and diversify the commission’s projects in this new area to ensure that it continues to help the industry set best market practice in the future.”
Jean-Guy Carrier, ICC secretary general adds: “Today, it is important to take a broader policy-making approach to reinforce our position as a leading forum for the banking industry and to determine the ways banking will be conducted in the future. The appointment of Daniel Schmand will help us develop the next generation of standards that may govern supply chain finance and open account trading.”