We were pleased to host a discussion on international banking by experts from Wells Fargo Bank today at Global Chamber® Phoenix. From the left, speakers were Kim Gates, VP International Treasury Management, Ed Doody, Sr. Vice President of Global Banking, and Ivan Ferraz, Senior Vice President. Summaries on their backgrounds are shown below.
You can read more about the international banking services of Wells Fargo Bank HERE.
The case studies were particularly interesting.
We learned of a software company that was able to more easily send payments to their team in 34 countries,
We also learned about a franchise that created a more robust system globally as they expanded to dozens of countries. Similarly a Phoenix-based company was able to pay their distributors with less risk and lower fees.
In another example, a Turkish buyer increased its liquidity by stretching its days payable outstanding (DPO), and optimized its working capital with payment terms extended to 180 days (from 60 days) at U.S. rates. The seller (export client of Wells Fargo) was elated to receive payment in four days (from 60 days), on the UPAS LC used. By receiving full payments on shipments at sight, the company reduced its days sales outstanding (DSO) and optimizing its international working capital.
These are the opportunity available to exporters, importers and traders using modern banking tools!
Thank you Wells Fargo Bank for sharing your expertise. If you'd like to contact any of our speakers, please let me know.
More pictures are shown here on our facebook page.
Join us for our next Global Chamber® Phoenix events, more info HERE.
Kim Gates - VP International Treasury Management, Wells Fargo Bank
Kim is an International Treasury Management Consultant based in Phoenix, Arizona. She provides global cash management services to U.S. companies doing business overseas. Wells Fargo offers a suite of services to give treasury professionals visibility and control of their funds worldwide. Kim brings more than 40 years of financial services experience, with, yhr last 15 years with the International Group.
Ed Doody - Senior Vice President, Global Banking, Wells Fargo Bank
Ed is responsible for originating and structuring global banking solutions for Wells Fargo clients and prospects in the Mountain West Region. Based in Denver, he collaborates with commercial banking clients and prospects by delivering global solutions involving financing, treasury management, supply chain finance, risk management and international trade. He primarily works with subsidiaries of foreign- owned companies, U.S. companies with international operations, and companies engaged in import or export trade.
Ivan Ferraz - Senior Vice President, Wells Fargo Bank
Ivan is West Coast/Mountain Regional Manager, responsible for Business Development of the bank's international trade finance solutions, with focus on middle market banking, global banking, Wells Fargo Capital Finance, corporate customers and prospects engaged in global trade.