New Appointment to the Board of the International Forfaiting Association

05.05.2014

Lorna Pillow, First Vice President at London Forfaiting Company Limited (LFC), a wholly owned subsidiary of FIMBank plc, has been unanimously co-opted to the Board of the International Forfaiting Association (IFA), which is the worldwide trade association for commercial companies, financial institutions and intermediaries engaged in Forfaiting.

Ms Pillow, an Honours graduate in Banking and Finance, commenced her career in Trust Administration and subsequently was involved in trading International Repos and Securities Lending on behalf of RZB Vienna through an agency company. She was later appointed General Manager of the Company, a position she held until she joined FIMBank plc.

Following the acquisition of LFC by FIMBank, she was entrusted with establishing the LFC Operations Unit in Malta. Under Lorna's supervision, the LFC Operations Unit was successful in attaining the first ever ISO9001:2000 certification in Forfaiting. During the course of 2006, her role also encompassed the establishment of the Factoring Department. In their official statement, the IFA referred to Ms Pillow’s  “long and reputable experience” in Forfaiting, adding that its members “will all benefit from her contribution to build a larger and stronger Association”. 

Forfaiting is a form of international supply chain financing, which involves the discounting of future payment obligations. For further information please visit www.forfaiting.com.

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