David Jones, head of forfaiting at the London branch of Bank Austria, has joined one-year old LTP Trade, an Internet-based dealing and information platform for the trade finance market.
At LTP, Jones will have overall responsibility for developing and expanding the company's documentary checking, dealing and clearing services.
Between 1995 and 1997 Jones was a director of Canadian Imperial Bank of Commerce and from 1986 to 1995, the manager of the forfaiting department at ABN Amro Bank. He is currently the secretary of the London regional committee of the International Forfaiting Association (IFA).
Commenting, Luigi La Ferla, LTP chief executive officer, says: "At the IFA, David was instrumental in the development of an industry blueprint for standardising settlement procedures and documentation, and his technical expertise will prove to be a great asset to the company."
Mr Jones' appointment follows three major appointments at LTP: James Barclay as non-executive chairman of LTP Trade; Trevor Utting as director of LTPtrade.net and head of research, from Credit Suisse First Boston; and Roy Bennett as managing director of LTP Asia, from Standard Forfaiting Asia.
The company's services centre around LTPtrade.net, an Internet-based real time dealing, information and data platform for the trade finance market. By 31 January, 2001 the LTP platform claimed some 300 dealers from 65 financial institutions in 15 different countries. The platform also provides a central settlement and safekeeping system for the trade finance market through State Street.