Major broker Aon has signed a memorandum of understanding with specialist financier Falcon Group to support the growth of British exports.
The collaboration between the two industry players will provide businesses with vital injections of capital, helping Britain step up its export game following the Brexit vote last June.
Elizabeth Jenkin, Aon Credit International’s chief broking officer, noted that there has been a strong demand in UK exports after the EU referendum and the resulting fall in the British pound – a trend which she said she expects to continue.
“Aon were early to recognize this and as part of our drive to support the resulting export surge, this collaboration with Falcon could provide our clients with another avenue to pursue when considering the options for the finance of exports,” Jenkin said.
Falcon Group CEO Will Nagle echoed Jenkin’s statement, saying that “in today’s current economic climate, it is vital that we do all that we can to boost British exports.”
Aon’s partnership with Falcon is seen as a welcome development as economic stress and uncertainty continue to impact traditional bank lending.
“With continued constraints on global lending, exporters are finding it increasingly difficult to access funding,” Nagle said. “Our affiliation with Aon could facilitate access to finance for UK businesses.”
Founded over 20 years ago, Falcon Group supports companies across the entire supply chain – from procuring purchases to financing end-buyers in target export markets.
Operating in Europe, Asia-Pacific, the Middle East and Australia, the firm has provided in excess of US$17 billion in funding to companies of all sizes around the world.
Related stories:
Aon’s global procurement chief departs
Aon reveals lower revenue in Q2
