New co-chairs appointed to lead ITFA Trade Finance Investment Ecosystem (ITFIE) Working Group

ITFA is pleased to announce the appointment of N L N Swaroop and Bertrand de Comminges as the new co-chairs of the ITFA Trade Finance Investment Ecosystem (ITFIE) Working Group.

The primary objective of the ITFIE Working Group is to enhance the trade finance investment ecosystem by facilitating more efficient asset and risk transfer between banks and non-bank investors, while promoting broader risk appetite from non-traditional investors.

By harmonising, standardising and digitising processes, ITFIE aims to support the real economy by increasing capital availability for trade and offering institutional investors a diversified asset class.

ITFA has been at the forefront of this initiative since 2021, when it took over the International Chamber of Commerce-led Investors in Trade Finance (IITF) Group.

The newly appointed co-chairs, N L N Swaroop (HSBC) and Bertrand de Comminges (Santander Alternative Investments SGIIC), both recognised experts in their fields, will lead the charge in achieving ITFIE’s goals as it works towards shaping the future of trade finance investment.

“The ITFIE Working Group represents a significant step in industry efforts to develop trade as an asset class, which presents a win-win opportunity to make greater capital available for global trade and at the same time provide access to a real economy, positive yield and uncorrelated asset class to the institutional investors,” says N L N Swaroop. “We are excited to work alongside the entire ITFA community to drive innovation and progress in this space.”

Bertrand de Comminges adds: “Trade finance, traditionally reliant on bank funding, presents an unparalleled opportunity for institutional investors. By engaging with and empowering these investors, we can enhance value and unlock financing possibilities for the ultimate beneficiaries, namely corporations and SMEs around the world.”

ITFIE’s work streams will strive to achieve several objectives, including articulating the requirements of institutional investors and ensuring a clear understanding of the technical aspects of distribution; developing an asset originator guide for streamlined distribution; driving automation and digitisation for trade finance distribution; and promoting market awareness and education for both, asset originators, and investors.

Leadership appointments for each of the work streams will be confirmed in the coming weeks.

If any members of ITFA are interested in joining these streams, kindly reach out to the ITFA Secretariat at for further details.

To read ITFIE’s ‘Whitepaper on developing a Practitioners Guide to making Trade an Investible Asset Class’, published in 2022, click here.

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