Transcript Tools For The New Global Trade Environment

Tools For The New Global Trade Environment
Harold ‘Lynn” Vann
Vice President & Business Banking Manager
Wells Fargo Bank, Northern California
Dan Frank
Vice President, Product Manager
Wells Fargo Bank, NA
New Environment, New Challenges
Trade in hard goods
Trade in content/services
Limited transparency
High transparency (maybe)
Few large transactions
Many small transactions
Focus on logistics
Focus on the business
Stable/growing dollar
Declining dollar
Assembling The Global Trade Financial Toolkit
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One size does not fit all
 Assemble a package of
services tailored to the
needs of your business,
selecting from the
following areas:
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Credit
Trade finance
Risk management
Foreign Exchange
Payments and collections
Foreign currency instruments
Wells Fargo International Banking History
1852
1853
1898
Wells Fargo
& Company
founded
Extends
banking and
express
business to
Europe
Start of
remittance
services to
Hong Kong
1978
Opens
representative
International office in Tokyo
ads features
stagecoach
in various
countries
1980s
1916
1900 – 300 offices
Established
express
office in
Shanghai
and Hong
Kong
operating in Mexico
1995
Wells Fargo &
HSBC form Wells
Fargo HSBC Trade
Bank joint venture
to support US
exporters/importers
1997
New branch
offices in Hong
Kong and Taipei
offer L/Cs and
Asia Business
Direct
2000
2002
2005
2007
International
online
capabilities with
the introduction
of CEO and
FXOL
Wells
Fargo
celebrates
150 years
Wells Fargo
becomes only
US bank to be
part of
Connector Bank
network
Wells Fargo opens
new
office in London to
facilitate European
business
Wells Fargo Trade Services
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Wells Fargo HSBC Trade Bank, a joint venture with Wells Fargo
and the HSBC Group, is the only nationally chartered bank in
the US dedicated exclusively to international trade
Services include trade finance, government-guaranteed loans,
foreign accounts receivable purchasing, and risk mitigation, as
well as the full range of foreign exchange services
Many services available through Trade Services Online portal
Facts:
– #1 in number of deals with Ex-Im Bank Working Capital Guarantee Program
for the last two years*
– Open bank accounts and move money globally in over 80 countries
– Facilitate trade and provide customer contacts in over 80 countries and
territories
– Manage cross border risk with offices across the US in 13 cities
*Ex-Im Bank, official export credit agency of the US. As of 12/31/06
Wells Fargo Foreign Exchange
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Now
Available
on BOB
An FX Price Maker
– $20 billion daily in FX volume*
– 3 trading floors (SF, MN, NY) and 15 sales offices
– 2nd largest trading volume in US, 5th largest worldwide
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Offering a wide array of products
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Currency risk management
Payment services
Investment services
Currency exchange and travel money
Providing superior service
– 10,000+ FX transactions per day
– Overnight Trading, Operations and Online Services Support
– Local, expert relationship management from FX Specialists aligned
to each customer segment we serve
– 24x7 online access – now available through Wells Fargo’s free
Business Online® Banking service
*Volume as measured on EBS interbank trading platform