Fimbank’s Margrith Lütschg-Emmenegger has been named chairman of the International Factors Group (IFG).

The appointment was made at the IFG’s annual conference in India. Lütschg-Emmenegger is a well-known figure in the market, having worked across factoring and forfeiting for most of her career.

She is currently president of Fimbank in Malta, but began her career with Barclays, before going on to work for Midland Bank Aval and WestLB. She joined Fimbank in 2003 as executive vice-president of business development and has been president since 2004.

She says on her appointment: “The rapid global growth of this sector means that it is evolving at a different pace and in different directions in the various geographic regions. IFG will remain at the forefront, increasing both awareness and understanding of the role of factoring and asset-based lending as an efficient way to provide capital to small and mid-sized businesses. We will do this through our existing international programmes and regional plans, as well as by developing new strategic alliances and partnerships.”