FCI and IFG plan to enter a union for global factoring

Launch of the new industry representation subject to final approval by shareholders

To represent the benefits and opportunities of the global factoring industry more effectively, the Boards of International Factors Group (IFG) and Factors Chain International (FCI) have together proposed to enter a union between the two organisations. On Friday, June 26, the members of FCI voted in favour of the plan at the FCI Annual General Meeting in Singapore. The proposal will now also be put to the members of IFG at their respective Annual Meeting in October in Vienna. Should the IFG members also be in favour, work on bringing the two organisations together will commence with a completion in 2016.

Daniela Bonzanini, chairman of FCI, said: “This is an important first step on the road to achieving a common global representation for the industry. I am delighted that we have the backing of our members in achieving this goal.”

Margrith Lütschg-Emmenegger, chairman of IFG, said: “By proposing the plan to bring the two organisations together we believe that we can represent the industry more effectively and build opportunities for members and their clients. This is a key step on the road to that objective.”