TrustBills GmbH, one of the most innovative auction marketplaces for the true sale of international trade receivables, announced last May the acquisition of 25% of the shares in TrustBills GmbH by DZ BANK, Germany. As a next milestone, TrustBills GmbH has now expanded its management team in a central function: Markus Wohlgeschaffen takes over as Senior Vice President and Head of Product Management responsible for product development and product marketing of TrustBills.
He will be bringing his more than 30 years of international experience in trade finance, which he gained in various management functions in the product marketing and product development at UniCredit Bank AG and its predecessor institutions in Germany and abroad. Markus Wohlgeschaffen served as Global Head of Trade Products for product development and product management of all traditional (letters of credit, collections, guarantees) and innovative supply chain finance products in the UniCredit Group until recently. He took a decisive influence on positioning UniCredit as a global innovation leader in the trade finance business. As a senior member of various industry shaping bodies, Markus Wohlgeschaffen has actively worked on many initiatives that gear the Trade Finance Industry. Amongst others, he was the Chairman of BAFT's Global Trade Industry Council (GTIC) as well as member of the Advisory Board of the ICC Banking Commission, the Board of Trustees of the Fraunhofer-Institute for Material Flow and Logistics in Dortmund, the SWIFT Corporate Advisory Group (CAG) and is still active in the World Trade Board. Moreover, he was a consultant for the Italian export credit agency (SACE) and the ICC Banking Commission. He regularly publishes articles and occurs as a speaker and panellist on national and international conferences.
"I worked for UniCredit, one of the largest banking groups in Europe and a leading provider of trade finance products. With satisfaction I look at the sustainable developments in the trade business I was able to help shape and advance within a major bank. Now I'm very much looking forward to bringing my experience and my pioneering spirit to a highly efficient corporate structure with a growing team of experienced and ambitious experts. Together we will implement in the trade area state-of-the-art pioneering product solutions based on the latest technology for companies, banks and investors", says Markus Wohlgeschaffen at his start in TrustBills.
"We are very pleased that in the person of Markus Wohlgeschaffen we have won over an internationally renowned trade expert. The combination of his broad and profound knowledge, his many years of sales experience, his close network in the trade industry and his pronounced innovativeness make Markus Wohlgeschaffen an asset to our company and our strategic investors', commented Jörg Hörster, founder and CEO of TrustBills. "Our goal is to combine state-of-the-art information technology, highest safety standards and established trade know-how to create the best international auction marketplace and to position trade receivables as an independent asset class. We are convinced that Markus Wohlgeschaffen will make a significant contribution to achieving this goal."