The London branch of Natexis Banques Populaires has hired a Head of Non-Bank Financial Institutions.
Steve Day will develop the bank's corporate banking relationships with mortgage and asset finance providers (including building societies, credit card and leasing companies), institutional investors, securities industry companies (such as investment banks and brokers) and the insurance sector. Steve will primarily focus on non-bank FIs in the UK and Ireland, although is likely to explore potential opportunities with contacts in other European countries such as the Netherlands once the UK operation is fully functional.
Natexis Banques Populaires offers a full range of financial products to its relationship clients including loans, guarantees, liquidity support, bridge financing, asset warehousing and repo market instruments. Bond and securitization origination and structuring, as well as money market loans and deposits and FX and interest rate derivatives are also offered as part of the bank's strategy of offering a broad range of products in order to foster deep relationships with targeted clients.
"The bank's strategy is to develop meaningful relationships that involve client dependency on the bank for quality of services, expertise, advice and capital," says Day. "The aim is to offer a broad relationship that is driven by client needs while being focussed on creative solutions."
While pre-selecting target clients, the intention is to develop client relationships across the spectrum of non-bank Fis.
"By mid-2006 the strategy is to have in place a team that includes detailed expertise in each non-FI sector," adds Day. "Then the bank can further build credibility by using in-depth knowledge of the client, the sector and the financial solutions available. The aim is to make each relationship value adding to the client and to the bank."
Day who has worked in corporate banking for 30 years, spent the past 17 at Danske Bank where he developed the bank's highly successful strategy for non-bank FIs.
"I was part of the Danske team that created a corporate banking operation that was considered by the market to have boxed well above its weight," he says. "We did this by being very focussed and very consistent in our approach. We targeted a small number of clients and offered a committed, creative and solutions-based relationship. And at Natexis we have an even greater opportunity to offer highly focussed relationship banking due to the breadth of products available from the bank."
Prior to joining Danske in 1988, Day worked with Lloyds Bank, Toronto Dominion Bank and the Royal Bank of Canada. Most of his career has been spent in the corporate and institutional banking sector, although he has also worked in the securities market.
Background notes: The non-bank FIs team forms part of the International Division at Natexis Banques Populaires, which is headed by Bruno Martin. The International Division is part of the bank's Corporate and Institutional Banking and Markets unit, which is dedicated to corporate and institutional clients. CIBM is headed by Olivier Schatz. Natexis Banques Populaires is a financing, investment banking and services bank and the listed vehicle of the Banque Populaire Group.
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