Demica makes two new senior hires to support growth and geographical expansion.
15 Oct 2018
Demica are pleased to announce the appointment of Andrew Ryan as Group CFO based in London and Andrew Holmes as Head Of Origination, Americas who is based in New York.
Andrew Ryan brings more than twenty years of broad financial services experience. He joins from Lloyds Banking Group where he was a member of the Strategic Leadership Group and his roles included Head of Investor Coverage as well as Head of Corporate Debt Capital Markets. Prior to Lloyds, Andrew held senior roles at a number of banking and investing firms including Morgan Stanley and Gordian Knot. Andrew qualified as a chartered accountant at Ernst and Young and will report directly to Matt Wreford, Group CEO.
Andrew Holmes joins from Barclays where he led the Trade and Working Capital team in the Americas with most of that time spent in the Trade Finance business. He will report to Maurice Benisty, Chief Commercial Officer and is responsible for growing our franchise in North America offering Demica’s full suite of receivables and payables-based financing products and technology services. His immediate priority will include building a strong team able to extend our origination capability and deliver working capital solutions to corporates across North America.
Matt Wreford, commented:
We are very excited to welcome both Andrew Ryan and Andrew Holmes and I look forward to working with them to drive Demica’s continued growth in the EMEA and North American markets. We continue to experience strong demand for our products and technology platform from corporate multinational customers and banks across these regions. With strong appetite from investors looking for exposure to high quality trade finance assets, we expect our geographical expansion will enable us to better serve clients in North America seeking financing around the world.
Demica is a rapidly growing Fintech providing working capital solutions to large corporates and banks with a broad range of receivables, inventory and payables finance products. The company focuses on multinational clients all over the world, across industries and sectors. Over the past three years, Demica has materially expanded its origination, structuring, implementation and placement teams to enable it to offer a seamless end-to-end solution to a wide universe of clients. In parallel, significant investment in its proprietary technology platform has enabled it to automate complex, high volume programmes and release billions of dollars of trapped working capital from supply chains. Today, over $9bn of funding is outstanding on the platform, provided by a diverse range of banks and institutional investors.