Pemberton, the diversified asset manager backed by one of Europe’s largest insurers, Legal & General Group PLC, today announces the expansion of its Trade Receivable Finance investment team with the appointment of Jean Tournaire as Portfolio Manager and Mark Darell-Brown as Consultant. Jean and Mark join Phil Ashdown, Partner and Senior Portfolio Manager, to further expand Pemberton’s trade receivables and supply chain finance strategy.
Jean brings over 20 years of relevant industry experience, most recently from Santander Corporate & Investment Banking UK where he was Head of Structured Trade & Working Capital Solutions, responsible for driving the expansion of the transaction services business. Prior to this role, Jean was Global Head of Receivable Finance at Santander Group between 2009 and 2013. Before joining Santander, he was Head of Commodity Finance at Natixis Brazil.
At Pemberton, Jean’s primary responsibility will be deal origination and portfolio management.
Mark has significant experience in the trade receivables sector, most recently as founder of Tostock Capital, which focuses on institutional investment opportunities in the trade finance and supply chain finance asset class. In his consultancy role, Mark will be responsible for business development and investor relations on the trade receivables and supply chain finance strategy.
The strategy has already attracted a cornerstone capital commitment from Legal & General and formed a strategic alliance with Global Supply Chain Finance. Phil Ashdown, Partner and Senior Portfolio Manager, has overall responsibility for origination and portfolio management of the strategy.
Symon Drake-Brockman, Managing Partner of Pemberton, said: “We believe there is a significant opportunity in improving investors’ access to this complex market, where institutional investors traditionally have come up against the dominance of the banking community, and in catering to the massive demand from corporates for alternative cash flow financing solutions. These appointments represent a clear signal of our intention to invest in and grow this asset class.”
“Jean was responsible for building Santander’s trade receivables global business. With his impressive track record, Jean’s appointment marks another important step in the development of our trade receivables strategy. Likewise, Mark’s extensive expertise and knowledge of institutional investors’ requirements in this asset class, will bring innumerable benefits to Pemberton.”
Jean Tournaire added: “Trade finance is an asset class that is being rapidly disrupted by digitalisation after decades or even centuries of relatively uneventful existence. There is a huge, untapped opportunity to transform trade receivables and supply chain finance into a liquid asset class, and this is increasingly being recognised by institutional investors. The platform Pemberton has built and the investor base it has cultivated give it an unrivalled ability to grow this asset class into a much larger investment proposition and I look forward to playing a key role in that development.”
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