Fortis’s Paul Schuilwerve moves east

Paul Schuilwerve, Fortis Bank’s highly respected Managing Director and Global Head Commodities, has been promoted to Head of Merchant Banking, Asia/Pacific. He started at his new post on 15 August, while Christina Roberts, Global Head of Energy, steps into his shoes in The Netherlands as the new Global Head of Commodities.

Schuilwerve takes over from Jaap Kalverkamp, who was appointed Head of ABN Amro Investment Banking and Deputy CEO of ABN Amro Merchant Banking, in The Netherlands, commencing on 1 August 2008.

Schuilwerve’s appointment was based upon his knowledge and experience in the region, as well as his track record in commodities. In 1995, Schuilwerve was Business Development Manager for China, based in Hong Kong, and was involved in the writing of the strategy plan for MeesPierson’s branch network in China, before moving to London. He moved back to Asia in 1998 and was based in Singapore just as the Asian financial crisis was gathering pace, spending five years there and rising to the position of Head of Commodities, Asia, for Fortis.

“My responsibilities in Asia will include overseeing Fortis’s Merchant Banking business in Asset Based Finance, Investment, Commercial, Corporate and Public Banking,” says Schuilwerve. His remit also includes commodities which is part of Asset Based Finance, and which includes the ECT business – energy, commodities and transportation – leasing and trade Finance. “Within ECT, Asia commodities is one of the oldest and one of the largest,” says Schuilwerve.

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 ECT industries, one of the growth engines of Fortis Merchant Banking and a forte of Schuilwerve.

“One of my tasks will be to generate sustainable growth and further build 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 integrating the acquired ABN Amro businesses,” he says.

Schuilwerve returns to Asia at an exciting time, with Europe and the US looking to be heading into recession. While many economies in Asia – including China’s – are battling high inflation, Schuilwerve sees both India and China as the future engines of global economic growth.

Schuilwerve started his career in banking at Bank Mees & Hope in 1986, which subsequently became MeesPierson and was then owned by the ABN group before it sold this merchant banking boutique to Fortis.