News - GTFNet in the news

e-mmerce magazine (online) Sept 14 2001

Online trade exchange has new chairman

(September 14 2001) Former executive director of the Bank of England and chairman and CEO of Standard Chartered Bank Rodney Galpin will take over as chairman of Global Trade Finance Network (GTFNet) from September 15 2001.

Galpin has been serving as chairman of Global Trade Finance Network’s (GTFNet) strategic adviser board.

Galpin replaces Evan Galbraith who stands down as chairman of Global Trade Finance Network (GTFNet) following his appointment as US Department of Defence adviser and Special Representative of the US Secretary of Defence to NATO. Galbraith has also been appointed to the Committee of the Defence Policy Advisory Board.

Galpin is also chairman of Alpha Airports Group plc and a director of Abbey National Treasury Services plc Peninsular & Oriental Steam Navigation Company and several charitable organisations. Galpin is a fellow of the Chartered Institute of Bankers and a freeman of the City of London.

Global Trade Finance Network (GTFNet) currently under development is a state of the art global e-commerce initiative dedicated to the distribution of international trade debt receivables. Global Trade Finance Network (GTFNet) will enable financial institutions operating in this 2.5 trillion-dollar market to enjoy liquidity comparable to that experienced in other major financial markets.

On his appointment Galpin said: “I am pleased to lead this exciting and global initiative. Its purpose is to enable all those involved in the growth of international trade to distribute more widely the financial obligations related to this activity in a way which is open transparent and of benefit to the world economy.”

“Rodney Galpin’s background and technical know how combined with his neutrality make him a natural choice to lead Global Trade Finance Network. By bringing together the diverse stakeholders with new developments we believe it’s possible to unleash this market's enormous potential ” says Gerrit Tammes who is a former vice-chairman of ING Bank and the senior adviser to GTFNet’s board of directors and to the CEO.

Global Trade Finance Network’s (GTFNet) board also includes Harold Meyerman former CEO of First Interstate Bank Ltd. The board is supported by staff with substantial trade finance investment banking technology and global marketing expertise.

Global Trade Finance Network (GTFNet) was founded by Tara Kimbrell Cole and is looking to establish its headquarters in Singapore with hubs in the UK Middle East and the Americas. “It is strategically relevant to Global Trade Finance Network’s (GTFNet) mission that this initiative emerges from a combination of non-OECD and OECD resources and efforts” claims a spokesman.

“Global Trade Finance Network’s (GTFNet) choice of Singapore as head office reflects the company’s alignment with the vision and mission Singapore has set for itself as an international city-state in a global community ” says Cole.