Fortis has appointed Paul Schuilwerve as Senior Managing Director, Head of Merchant Banking Asia Pacific with effect from 15 August 2008. Mr Schuilwerve will report to Luc Henrard, CEO Asia Pacific, and Frans van Lanschot, CEO Asset Based Finance.

Based in Singapore, Paul Schuilwerve will be responsible for overseeing Fortis Merchant Banking business in Asset Based Finance, Investment, Commercial, Corporate and Public Banking. He takes over from Jaap Kalverkamp, who headed Fortis Merchant Banking business in Asia for the last three years.

Fortis has identified Asia as an expansion and key growth area, especially in providing financial services for companies active in the industrial value chain of the Energy, Commodities and Transportation industries, one of the growth engines of Fortis Merchant Banking and a forte of Paul Schuilwerve. The Merchant Banking business saw double-digit growth in 2007 with an increase of 50 per cent in its revenue over the last one year in Asia Pacific. It currently employs more than 700 people in the region.

Paul Schuilwerve has devoted his career to Fortis and worked in many Fortis locations, including Amsterdam/Rotterdam, Hong Kong, Shanghai, Singapore and London over the last 22 years. Prior to his current position, Paul was the Global Head of Commodities, responsible for the commodity finance activities for Fortis worldwide and holds extensive experience in Merchant Banking; specifically in the commodity industry.

Luc Henrard commented, “Paul has a deep knowledge on the commodities sector and understanding of the markets in Asia where he worked for six years previously. I have utmost confidence in his leadership skills to expand our achievements and continue to deliver the high quality services to our clients.”

“I am excited to be back in Asia and be part of the Merchant Banking team here. Fortis has established a strong regional and global position in many of our products and skills. One of my tasks will be to generate sustainable growth and further building our business in Japan, Australia, Singapore, Hong Kong, India and Dubai. In Dubai, we are currently in the process of upgrading to a full branch status and that will allow us to tap into the Middle East market for our business,” said Paul Schuilwerve.

Paul Schuilwerve also sits on the Editorial Board of Euromoney’s Trade Finance Magazine and the Editorial Board of Global Trade Review (Exporta Group).