FCI, a global representative body for factoring and the financing of open account domestic and international trade receivables, named Neal Harm as the successor to Peter Mulroy, the current secretary general of FCI, who will step down on Feb. 29, 2024, as previously announced.
Harm will join FCI from Fintainium, where he served as chief operating officer. Before Fintainium, he was a managing director at CIT Commercial Services, where he oversaw strategy, business development and project management.
Harm previously worked for BB&T, where he served in a variety of positions, including director of international banking services, president of the factoring division and chief operating officer of the company’s commercial finance business. Harm applied his skills to appropriately manage and structure the breadth of commercial finance operations across the asset-based lending, factoring, and supply chain finance operating platforms. He has experience in both domestic factoring and international factoring. He has also previously worked in various positions in factoring with GMAC Commercial Finance and Bank of America.
Harm served as member of the FCI Business and IT Committee (ComCom) from 2006-2012 and as its chairman from 2008-2012. He helped lead the first conversion of the Edifactoring platform to FCI’s current host, Centric, in 2009. He also served the FCI’s executive committee from 2013 until 2017, including a mandate as vice chairman.
With a permanent secretariat headquartered in Amsterdam, the secretary general’s primary task is to ensure that the FCI achieves its objectives and implements the decisions as laid out by the executive committee. The secretary general is responsible for the sound day-to-day management of the organization and ensures that effective contacts at all levels are maintained with members and institutions, as well as other relevant businesses, political and research organizations and even, through the media, the public at large. He will also be responsible for budget achievement, managing expenses and ensuring that the organization maintains a healthy financial condition. Another primary task will be promoting factoring and receivables finance business in new markets by convincing new members to join the association and to introduce solutions in facilitating international trade through receivables finance services.
Harm will officially start on Nov. 1 as deputy secretary general and will relocate to the Netherlands to be trained by Mulroy over the following four months. He will be promoted to secretary general on March, 1, 2024.
“I am delighted to see Neal as my successor. Neal has tremendous experience in factoring, receivables and supply chain finance, including in the realm of technology. He has a long history in FCI serving on various committees, has maintained his relationships with many members around the world, and has the executive management experience and strategic foresight to help lead the chain to new heights. I wish him the best of luck when he takes over the reins of the association in 2024,” Mulroy said.
“I have known Neal for many years. We had the opportunity to work together on the executive committee level and I always appreciated his honesty, candour, transparency and his commitment to FCI. Based on his vast experience, innovative approach and his professional life in factoring and SCF, I expect him to excel in his new role and take FCI to another level,” Daniela Bonzanini, chairwoman of FCI, said.
