Demica appoints Tim Davies as Head of Origination (Europe)
15 May 2015
Working capital solutions provider Demica has appointed Tim Davies to the newly created role of head of origination, Europe. He will report directly to Demica’s chief executive officer (CEO) Matt Wreford.
In his new role, Davies will be responsible for opening new customer relationships; originating, structuring and placing structured finance and securitisation transactions; and helping Demica’s clients optimise their working capital positions. He has a specific mandate to grow Demica’s origination team in Europe.
“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,” says Davies. “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.”
Davies has almost two decades of experience in securitisation and structured finance. Before joining Demica, he was 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. Prior to this, he spent five years working as securitisation and structured finance senior director at Royal Bank of Scotland (RBS) covering the UK, France and Benelux countries. Before moving to the UK in 2007, Tim spent twelve years in the Royal Bank of Canada ’s (RBC) Capital Markets securitisation group in Toronto, covering the bank’s North American clients.
Wreford comments: “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.”
Initially a 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. In 2014, Demica facilitated the funding of $50 billion of receivables from 130 countries across Europe, North America and Asia. Based in London, Demica works with banks, corporates and a number of other non-bank financial institutions and their intermediaries.
Source: TRADE & EXPORT FINANCE