As announced back in June 2022, the current Secretary General, Mr. Peter Mulroy, will be stepping down on 29th February 2024. FCI is pleased to announce that his successor will be Mr. Neal Harm.
Neal is a US national and joins FCI from Fintainium, where he served as Chief Operating Officer. Beforehand he was Managing Director, CIT Commercial Services overseeing strategy, business development and project management. Neal previously worked for BB&T, where he served in a variety of positions including Director of International Banking Services, President of BB&T's Factoring Division, and Chief Operating Officer of the company's Commercial Finance business. Neal applied his considerable organisational skills to appropriately manage and structure the breadth of the Commercial Finance operations across the ABL, Factoring, and Supply Chain Finance operating platforms. He has tremendous experience in both Domestic Factoring and International Factoring. Neal has also previously worked in various positions in factoring with GMAC Commercial Finance and Bank of America.
Neal served as member of the FCI Business and IT Committee (ComCom) from 2006-2012 and as its Chairman from 2008-2012. He helped lead the first conversion of the Edifactoring platform to our current host Centric back in 2009. He also served the FCI Executive Committee from 2013 until 2017 including a mandate as Vice Chairman.
With a Permanent Secretariat headquartered in Amsterdam, the Secretary General’s primary task is to ensure that FCI achieves its objectives and implements the decisions as laid out by the Executive Committee. The Secretary General is responsible for the sound day-to-day management of the organisation and ensures that effective contacts at all levels are maintained with members and institutions, with other relevant businesses, political and research organisations and even, through the media, to the public at large. He will also be responsible for budget achievement, managing expenses and ensuring that the organisation maintains a healthy financial condition. One of the main tasks will be to promote factoring and receivables finance business in new markets by convincing new members to join the association and to introduce solutions in facilitating international trade through receivables finance services.
Neal will officially start on 1st November as Deputy Secretary General and will relocate to the Netherlands, to be trained by Peter over the following four months. He will be promoted to FCI Secretary General on 1st March 2024. Neal will be presented to the members during the upcoming FCI 55th Annual Meeting in Marrakech from 29 October - 2 November 2023. The FCI Secretary General and Chairman had the following to say about Neal’s appointment:
“I am delighted to see Neal as my successor. Neal has tremendous experience in factoring, receivables and supply chain finance, including in the realm of technology. He has a long history in FCI serving on various committees, has maintained his relationships with many members around the world, and has the executive management experience and strategic foresight to help lead the chain to new heights. I wish him the best of luck when he takes over the reins of the association in 2024” said Peter Mulroy, Secretary General.
“I have known Neal for many years, we had the opportunity to work together on the Executive Committee level and I always appreciated his honesty, candour, transparency and his commitment to FCI. Based on his vast experience, innovative approach, and his professional life in factoring and SCF, I expect him to excel in his new role and take FCI to another level.” said Daniela Bonzanini, Chairman.
FCI is the Global Representative Body for Factoring and Financing of Open Account Domestic and International Trade Receivables. FCI was set up in 1968 as a non-profit global association. With today close to 400 member companies in more than 90 countries, FCI offers a unique network for cooperation in cross-border factoring. Member transactions represent nearly 60% of the world’s international correspondent factoring volume.
FCI is a non-exclusive organization, open to any company which is providing Factoring Services or plans to set up Factoring Activities but also to service providers to the industry.
FCI offers three major areas of activities:
- CONNECT: the Business network supports cross-border factoring activities through which its members cooperate as export and import factors
- EDUCATE: FCI promotes and develops best practices in both domestic and international factoring and related Open Account Finance products
- INFLUENCE: FCI promotes and defends the Industry with stakeholders and policy makers worldwide