Swiss-based BCP picks head of Commodity Trade Finance
Banque de Commerce et de Placements, headquartered in Geneva, has appointed Yvan Rodo as head of its Commodity Trade Finance activity, as well as senior vice president and member of the Management Committee.
Rodo was already a senior staff member in BCP’s Trade Finance Department, in charge of clients involved in major sectors of international trade. Before joining BCP in 2000, he was with United Overseas Bank and Crédit Lyonnais.
Rodo’s appointment follows the resignation of Cem Osmanoglu, who is set to follow personal projects outside the banking sector, relating to his expertise in international trade. He will however remain as senior consultant at BCP until September 2012, in order to ensure a smooth transition period both for the staff and the clients of the Bank.
BCP has involved in financing international trade for almost 50 years. In 2011 it handled more than CHF10.3bn across a range of commodities. It operates in all strategic regions of the world through its global network of correspondent banks.
BCP was established in 1963 as a Swiss bank under Swiss Banking Law and Regulations and is supervised by FINMA, the Swiss financial markets’ supervisory authority. With its Geneva HQ, it has branches in Luxembourg and Dubai, and focuses on structured commodity trade finance, private banking, treasury services and correspondent banking. With shareholders’ funds of CHF320m, BCP had a Tier 1 capitalization ratio of 19.2% at 31 December 2011. It recorded a net profit of CHF17.6m in 2011.