EU Federation for the Factoring and Commercial Finance Industry

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EU Factoring and Commercial Finance Annual Meeting marks its Success and Progress

The EU Federation for the Factoring and Commercial Finance Industry (EUF) held its Annual Members’ Council Meeting in Brussels on 5th April where representatives of the Federation’s Members (who between them represent 97% of the European industry business turnover) gathered to hear the ExCom and Technical Committees review the extensive and effective range of lobbying and PR activities undertaken over the last twelve months and their plans for the coming year.

The EUF has lobbied on issues as diverse as AnaCredit, The Capital Markets Union, NBNI G-SIFIs, Shadow Banking, The NSFR and the Supporting Factor, interacted with the EBA, ECB, The Basel Committee, European Commission, Parliament and Council. It has held a second successful Factoring Summit, a Breakfast Workshop and also published a White Paper on the Industry which for the first time demonstrates the low loss given default nature of this type of funding.

After eight years of guiding its development, founding Independent Chairman John Gielen is retiring: “I am delighted that in a relatively short time we have been able to develop a small but effective organisation that has already achieved real success in building awareness and understanding of the importance and impact of our Industry!”

Erik Timmermans, Deputy Secretary General of FCI, was elected to take the role of Chairman, and Françoise Palle-Guillabert, Délégué Général of the ASF (France) became Vice-Chairman. Erik Timmermans commented “I thank John for his unstinting work in support of the goals of the EUF and I am looking forward to working with my colleagues in the Federation to continue the vital work of building the role and impact of the Industry in Europe.”

In further organizational changes, Diego Tavecchia of Assifact (Italy) takes the Chair of the Prudential Risk Committee, and Magdalena Ciechomska-Barczak of PZF (Poland) becomes Chair of the Economics and Statistics Committee.

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