Rolfe will focus on developing business with European and Middle East-based commodity trading companies in line with the bank’s revised risk appetite.
British Arab Commercial Bank (BACB), the UK-regulated international wholesale bank specialising in the emerging markets, has appointed Michael Rolfe to head up its Commodity Finance division. Rolfe, who will be based in London, brings a wealth of experience gained over a 40-year career in trade finance. He will focus on developing BACB’s activities with commodity trading companies in the UK and Europe, with a particular focus on the metals, energy and agricultural sectors.
Rolfe joins from Bank Leumi, where he spent over five years as Head of Commodity Finance.
His previous roles include senior positions at GE Artesia Bank, UniCredit Group, Fortis Bank and Credit Agricole Indosuez.
"BACB’s expertise and competence in doing business in challenging markets is one of the main reasons I was attracted to this role,” says Rolfe. “The commodity trade finance market perennially brings new opportunities through product innovation, banks stepping out of the business or changing trade flows. BACB is in a fantastic position to seize on these, with deep-rooted expertise of Africa – a plentiful source of natural resources – and being a London-based bank that is able to work with mid-sized traders that may no longer fit the profile of the larger wholesale banks."
Susie Aliker, CEO of BACB, adds:
"Last year saw our commodity finance activity realigned in accordance with the bank’s revised risk appetite, and Mike brings the vision and expertise to take this business forward. This will see us continue to move away from sole-banked clients and towards lending to a wider multi-banked client base active in trading physical commodity products that benefit from futures markets or generally good commodity market liquidity. His experience speaks for itself and we are delighted to have him on board."
Based in London and regulated in the UK, BACB prides itself on its proven track record of excellence and its deep product expertise, both of which give it the wherewithal to support trade flows to and from Africa and the Middle East.
