The International Trade and Forfaiting Association (ITFA) has expanded its reach to the Americas after combining with the US-based Association of Trade and Forfaiting (ATFA).
Under the terms of the agreement, which came into effect December 31, ATFA will now operate as ITFA Americas, and become ITFA’s regional chapter for the Americas.
Lynn Galkoski, head of trade risk distribution at BNY Mellon and president of ATFA, has been elected to ITFA’s board and will now serve as chair of ITFA Americas. Speaking about the development, she says: “When I was elected ATFA president, we were strategic about assembling a board that, for example, knew corporates, knew Latin America, and understood the enormous potential at hand to add even more value for our membership. Joining forces with ITFA with its strong brand and expanding into Latin America are two major steps toward bringing that vision to fruition. We have a great passion for this organisation and look forward to the exciting future ahead of us”.
Sean Edwards, ITFA chair, adds: “This brings under one roof two highly complementary trade finance institutions. We have worked together frequently over the years and this step was long overdue.”
The combined association now covers the globe, with almost 300 members across Europe, the Middle East, Asia, Africa, Australia, and the Americas, and says it will work to produce a wider range of educational events and seminars designed to foster business relationships for the benefit of all members.