FCI, the factoring industry association, has chosen Neal Harm as its new secretary general.
Harm will take the reins in March 2024, following a period as deputy secretary general beginning next month, during which he will work alongside outgoing chief Peter Mulroy. Mulroy announced last year that he would be stepping down from the role.
Harm will relocate to Amsterdam from Charlotte, where he has been chief operating officer for accounts and receivables platform Fintainium since November last year.
Before joining Fintainium, Harm was managing director, strategy, at Cit Commercial Services and prior to that spent 14 years in various trade, factoring and working capital roles at BB&T.
“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,” FCI chairman Daniela Bonzanini says of the appointment.
“I am delighted to see Neal as my successor,” Mulroy says. “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.”
Mulroy’s departure on February 29 will cap a 10-year stint as FCI’s secretary general, during which time the organisation’s membership expanded to almost 400 companies in around 90 countries.
In recent years FCI amended its rules to accommodate and promote sharia-compliant factoring and will launch a new factoring model law at its annual conference later this month.