Standard Chartered’s new global head of structured export finance, Heinz Noeding, replaces Charles Carlson who has been appointed CEO of the bank’s operations in Libya.
Based in New York, and responsible for a global team of 20, Heinz will report globally to James Courtenay, global head of project and export finance who is based in London, and Mohammed Grimeh, head of capital markets for the Americas.
Apart from leading the structured export finance business globally, Heinz will engage with the US Eximbank, Multilateral Investment Guarantee Agency, Overseas Private Investment Corporation and other multilateral agencies based in the US, to structure project and export financings for clients across the bank’s network in Asia, Africa and the Middle East. Additionally, he will be responsible for the finance of exports from Standard Chartered’s US-based clients to clients in Asia, Middle East and Africa.
Noeding’s career stretches across many areas of structured finance, including leveraged finance, high yield, M&A and loan asset management in the US, Europe and Asia. Additionally, he is experienced in developing complex structured solutions for corporate and institutional clients, most recently as president of Aozora Investment Management. Prior to that, he was a managing director in corporate finance at CIBC World Markets.
“Heinz is not only an experienced banker but also has a track record in building businesses,” said Courtenay in a statement. “Under his leadership, I am fully confident that our structured export finance business will continue to grow and enhance our ability to provide medium-term export financing solutions for clients in our network.”
Standard Chartered’s structured export finance business has recently closed a number of transactions globally, including a financing for Tiger Airways of Singapore to purchase nine Airbus 320 aircraft which is supported by Coface, the French export credit agency. This follows the airline’s first ECA-backed financing with Coface for two Airbus 320 aircraft which were delivered in January and February 2010, and for which Standard Chartered was also the mandated lead arranger.
The bank, which generates around 90% of its income and profits in Asia, Africa and the Middle East, has also recently closed a $1 billion financing for Sonangol in Angola together with China Development Bank, and a $140 million Finvera guaranteed export financing for Seaboard Corporation.
