Bishop signs up for new supply chain finance role
FORMER foreign minister Julie Bishop has been appointed as chairwoman of the AsiaPacific arm of finance firm Greensill and will also join the London-based company’s advisory board.
Greensill, which is backed by Queensland-raised billionaire Lex Greensill, specialises in supply chain financing for small to mid-sized businesses.
Ms Bishop, who was foreign minister under the Abbott and Turnbull governments until 2018, will provide strategic advice to Greensill as the company looks to step up its expansion in the region, including across developing countries.
The role is her first major corporate appointment since leaving politics ahead of last May’s federal election.
Ms Bishop will continue to operate her consulting
Julie Bishop & Partners.
The $US4 billion ($A5.8 billion) Lexsill group this month said it was considering a sharemarket float in the year ahead.
Supply-chain finance, also known as reverse factoring, is a practice where corporations use loans offered through the firm, cloud by fintech companies to pay their suppliers early.
“Business, government and individuals can all benefit from greater efficiencies in the finance sector,” Ms Bishop said yesterday.
“Innovative solutions pioneered by Greensill offer great potential to transform relationships throughout the world’s complex supply chains.”
Mr Greensill said he was delighted to have someone of Ms Bishop’s calibre join the firm.
“The ability to draw on Julie’s unparalleled experience and expertise – particularly her international credentials cemented during five years as Australia’s foreign minister – will be invaluable as we continue to unlock capital for businesses and people around the world,” Mr Greensill said.