Schuilwerve will report to Luc Henrard, CEO Asia-Pacific, and Frans van Lanschot, CEO asset-based finance. Prior to this, Schuilwerve was the global head of commodities, responsible for the commodity finance activities for Fortis worldwide.
Based in Singapore, Schuilwerve will be responsible for overseeing FortisÆs merchant banking business in asset-based finance, investment, commercial, corporate and public banking. He takes over from Jaap Kalverkamp, who headed the Fortis merchant banking business in Asia for the last three years.
Fortis says it has identified Asia as an expansion and key growth area, especially in providing financial services for companies active in the industrial value chain of the energy, commodities and transportation industries. The merchant banking business recorded double-digit growth in 2007 with an increase of 50% in its revenue over the last year in Asia-Pacific. It currently employs more than 700 people in the region.
Schuilwerve has devoted his career to Fortis and worked in many Fortis locations, including Amsterdam/Rotterdam, Hong Kong, Shanghai, Singapore and London over the last 22 years.
Henrard says: ôPaul has a deep knowledge of the commodities sector and understands the markets in Asia where he has worked for six years previously. I have utmost confidence in his leadership skills to expand our achievements and continue to deliver high-quality services to our clients.ö