Concerns around loss of expertise in the trade finance space are nothing new. Global banking research and advisory firm East & Partners noted in 2021 that banks had highlighted the difficulties of attracting and retaining trade finance talent for the better part of a decade.
This has particularly impacted bank back-office functions, which are highly dependent on experience and overall domain knowledge.
“Our observation is that there is a significant gap in terms of the ‘next generation’ available to replace those who are retiring,” says Patrick DeVilbiss, director and senior offering manager, trade and supply chain solutions at CGI.
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