Trade finance: Forfaiting for fun and profit

Trade finance used to be a less glamourous part of the business. But times have changed. Banks have seen there's money to be made if deals are intricately structured and widely traded. That means building teams with the required expertise. When a trade financier's phone rings now it could well be a headhunter offering a better package. Rupert Wright reports on the new dynamism.

It’s hard to imagine Wall Street star Michael Douglas, all red suspenders and slicked-back hair, playing a trade financier. Trade finance has never had charms for the Gordon Geckos of banking. Trade financiers don’t wear fancy suspenders. Their characteristic fashion statement is said to be brown shoes. There are no big swinging dicks, no million-dollar bonuses. Instead of Douglas, a casting agent might pick Rowan Atkinson.

But this image needs updating. The modern trade financier may not be flamboyant, but he’s well dressed and highly paid and may even have a colourful personality.

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