FIMBank President elected Chairman of International Factors Group

Margrith Lütschg-Emmenegger, President of Malta-based trade finance specialist FIMBank plc, was recently elected Chairman of the International Factors Group (IFG) during the association's 51st Conference held in New Delhi, India. Founded in 1963, the IFG is recognized as the representative Trade Association for the Factoring and the Asset Based Finance Industry worldwide, and is composed of more than 160 members representing 50 countries.

Commenting on her appointment as Chairman of the IFG, Lütschg-Emmenegger stated that "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." Ms Lütschg-Emmenegger also announced her intention to work towards "the creation of an international representative body for Factoring and Commercial Finance, which would be present in both emerging and established markets worldwide."

Margrith Lütschg-Emmenegger has worked in Trade Finance with a focus on Forfaiting and Factoring for much of her career, first with Barclays Bank, and then with Midland Bank Aval in London, before joining West Merchant Bank (now WestLB AG), where she had global responsibility for Forfaiting and Factoring. Lütschg-Emmenegger joined FIMBank in 2003 as Executive Vice President responsible for Business Development, and was subsequently appointed President in 2004. Under her leadership, FIMBank has forged a reputation for developing factoring operations in emerging markets. To date, the Group has set up shop in India, Dubai, Lebanon, Egypt, Russia and Brazil.