Demica, the specialist provider of working capital solutions to multinational companies, is pleased to announce that it has appointed Tim Davies to the newly created role of Head of Origination (Europe). Tim will play an instrumental role in enabling Demica to lever its market-leading technology platform to take advantage of emerging opportunities in the shifting trade receivables finance landscape. His responsibilities will include opening new customer relationships; originating, structuring and placing structured finance and securitisation transactions and helping Demica’s clients optimise their working capital positions. Tim has a mandate to grow Demica’s origination team in Europe and will report directly to Demica’s CEO Matt Wreford. With almost two decades of experience in Capital Markets Securitisation and Structured Finance with blue-chip banks spanning across the North American, European and emerging markets, Tim’s extensive expertise and in-depth market knowledge will make a vital contribution to Demica’s growth as a technology-enabled finance business.
Initially a leading technology and reporting services provider, Demica has evolved into a fully-fledged global funding platform following its acquisition in August 2014 by three large financial investors. Demica is now originating working capital programmes, syndicating the funding to its long standing bank and institutional partners before the company then manages the programmes day-to-day using its proven proprietary platform.
Tim has been in the securitisation and structured finance world for almost two decades, most of them as a trade receivables specialist across North American and European markets for blue-chip banks. As a senior originator and structurer, Tim has led a range of highly innovative structured finance transactions, including off-balance sheet structures and successful multinational programmes. Prior to joining Demica, Tim was the Director of Lloyds Bank’s Asset Backed Solutions Conduit and Balance Sheet team in London where he was responsible for originating and structuring securitisation transactions for multinational and regional clients. Previously, Tim spent five years as Securitisation & Structured Finance Senior Director at Royal Bank of Scotland, covering the UK, France and Benelux countries. Before moving to the UK in 2007, Tim spent 12 years in RBC Capital Markets’ Securitisation Group in Toronto, covering the bank’s North American clients. Tim is an active conference speaker and has participated in regulatory lobbying efforts on behalf of the securitisation industry, contributing to various papers and submissions via industry groups such as the Association for Financial Markets in Europe (AFME).
Tim Davies comments: “The receivables finance world is evolving in response to changes in traditional lenders’ behaviour and particularly in reaction to regulatory changes in the capital markets. Demica’s sophisticated technology platform already underpins a significant volume of funded receivables pools via a global network of banks and other funders: it is uniquely equipped to take advantage of emerging opportunities in this space, as the landscape shifts. My role will be to lever Demica’s platform and privileged market position to help our clients optimise their working capital positions and identify new sources of funding through innovative asset-backed structures.”
Matt Wreford, CEO of Demica, comments on Tim’s appointment: “With Tim’s sound track record in the global trade receivables securitisation market, his insight and market knowledge will prove an invaluable asset to Demica and our rapidly growing client base. The post-crisis banking regulatory environment continues to highlight the importance of working capital management and clients’ need for flexible, committed funding to drive their growth and manage their liquidity. Tim’s appointment will further extend Demica’s ability to provide our customers with optimised working capital solutions, ranging from invoice discounting and factoring to receivables securitisation and asset backed loan programmes to supply chain finance.”
Established in 1992, Demica provides working capital solutions to multinational companies worldwide. Initially a leading technology and reporting services provider, Demica has evolved into a fully-fledged global funding platform. Today, Demica powers over 60 large receivables finance and supply chain finance programmes worldwide. In 2014, Demica facilitated the funding of $50 billion of receivables from 130 countries for clients in Europe, North America and Asia. With access to proprietary pools of capital, Demica partners with 35 banks and large institutional investors to fund programmes. Based in London and with an office opening shortly in the United States, Demica works with banks, corporates and other non-bank financial institutions and intermediaries, including private equity firms, hedge funds, pension companies and insurance firms worldwide. Leveraging its expertise, sophisticated technology platform and access to capital, Demica helps companies structure and execute working capital funding programmes of $25m to $750m.
Demica has been audited and issued with Information Security Management System ISO/IEC 27001:2005 for the provision of working capital solutions, with associated consultancy, advisory and technology services. Demica has also successfully passed a Type 2 review for The International Standard on Assurance Engagements: ISAE 3402 (formerly known as SAS70)
For more information about Demica, visit www.demica.com