Stenn appoints Erik Timmermans as global partnerships director of financial institutions
Stenn, a leading provider of cross-border trade finance, today announces Erik Timmermans in the newly created role of global partnerships director of financial institutions. In this position, Erik will be responsible for the development of Stenn’s activities in partnership with financial institutions to help them develop cross-border business internally.
Erik brings a wealth of experience to Stenn. In 2018 he founded World of Open Account (WOA), a digital knowledge and networking platform, initiated by experts from the receivables finance industry. In 2018 Erik also received both the Lifetime Achievement Award at the BCR RFIx conference and the Leadership in Receivables Finance Award at the Business Money Awards Dinner.
Erik began his career in the factoring industry with International Factors Belgium where he held various management positions between 1982 and 2001. He was secretary general of IFG (International Factors Group) from 2005 to 2015 and played a key role in the merger between IFG and FCI at the end of 2015. Post-merger Erik served deputy secretary general of FCI. He was also chairman of the EUF (EU Federation for Factoring) from 2016 until 2018.
The news follows Stenn’s announcement last month that it had closed a significant upsizing of its funding programme, involving M&G Investments, amongst others. Stenn has now invested well in excess of $1bn in support of its clients’ global trade activities.
Greg Karpovsky, founder and executive chairman of Stenn, commented: “We are pleased to welcome Erik to our team. His knowledge, experience and network in the receivables finance industry will be of great value to Stenn as we rapidly expand the scope and footprint of our business. We will rely on Erik to open up new routes to market in developing strategic partnerships with banks, non-bank financial institutions and fintechs all over the globe.”
Erik Timmermans, Stenn global partnerships director, financial institutions, commented: “Since its start in 2015, I have been following Stenn’s development with growing admiration. Stenn is redefining the cross-border finance industry with its mission of providing next-level supply chain finance solutions to underserved markets. I look forward to working with Stenn’s talented team and help to realise their ambitions.”
