ICC Banking Commission appoints Daniel Schmand as Vice-Chair

Mr Schmand is Head of Trade Finance and Cash Management Corporates EMEA at Deutsche Bank’s Global Transaction Banking (GTB) division and is also responsible for the global coordination of GTB’s Trade Finance business. With a long track record in trade and commercial banking, Mr Schmand has been involved in several trade related strategic initiatives including product development and risk coordination for trade finance and supply chain products.

Kah Chye Tan, Chair of the ICC Banking Commission, said: “As we are expanding our services to supply chain finance, Daniel is ideally positioned to drive and diversify the commission’s projects in this new area to ensure that it continues to help the industry set best market practice in the future. He will supervise the ICC Bank Payment Obligation (BPO) project that aims at crafting a new generation set of rules for trade finance using successful electronic matching of data according to an industry-wide set of ICC standards. Other projects in supply chain finance, forfaiting and open account may soon follow as well.”

Jean-Guy Carrier, ICC Secretary General said: “The ICC Banking Commission is a leading, global rule-making body for the banking industry, producing universally accepted rules and guidelines for international banking practice. ICC’s voluntary market-based approaches have often been praised for levelling the playing field in trade finance practices. Today, it is important to take a broader policy-making approach to reinforce our position as a leading forum for the banking industry and to determine the ways banking will be conducted in the future. The appointment of Daniel Schmand will help us develop the next generation of standards that may govern supply chain finance and open account trading.”

Mr Schmand said: “It is an honour to be nominated as the Vice-Chair of the ICC Banking Commission. I am particularly pleased to be able to support the development of supply chain finance as one of the most important and fastest growing areas in the trade finance space. Given the political, economic and regulatory environment we need to develop sustainable supply chain finance rules to ensure continued prosperity of global trade.”

With more than 600 members in 85 countries, many of them emerging, the Banking Commission is the largest of ICC’s commissions.

As of today, the ICC Banking Commission executive officers are:

• KAH CHYE TAN, Chair, Global Head of Trade and Working Capital, Barclays, UK
• GEORGES AFFAKI, Vice-Chair, Member of the Executive Committee and Head of Structured Finance, CIB Legal, BNP Paribas, France
• STEVEN BECK, Banking Commission Senior Advisor, Head of Trade Finance, Asian Development Bank (ADB)
• GARY COLLYER, Banking Commission Senior Technical Advisor, Founder Collyer Consulting, UK
• DANIEL SCHMAND, Vice-Chair, Head of Trade Finance and Cash Management Corporates EMEA, Deutsche Bank
• DAN TAYLOR, Vice-Chair, Executive Director, TSS Global Market Infrastructures, JPMorgan, US
• ALEXANDER ZELENOV, Vice-Chair, Director, Financial Institutions Department, Vnesheconombank, Russia∙
• YANLING ZHANG, Vice-Chair, Chairman, Bank of China Aviation