Peter Mulroy, Secretary General of FCI: Champion for Sustainable Development and Growth of the Open Account Receivables Finance Industry Globally

Peter Mulroy, Secretary General of FCI, has dedicated his career to supporting the global growth of trade.

Mulroy was appointed Secretary General in July 2013 and in his seven years he expanded the footprint of the association from 72 to 95 countries, increased membership from 250 to nearly 400 members, decentralised the organisation by creating six regional centers, exceeded all growth targets and led the merger of the two largest factoring associations to create a single voice representing the interests of the members and stakeholders of the global factoring and receivables finance industry.

As secretary general, Mulroy assists financial institutions, SMEs, corporates, and other stakeholders to provide legal, operational, credit risk and compliance guidance that specifically relates to open account receivables finance business. He also helps new entrants establish factoring initiatives and supports governments, regulators, and central banks to provide training and guidance.

His aim is to ultimately create strong legal and regulatory national frameworks to protect the interests of investors and users of the service. Mulroy addresses global audiences on the subject of receivables finance and international trade, and has earned his place as an ambassador for the industry.

“His aim is to ultimately create strong legal and regulatory national frameworks to protect the interests of investors and users of the service.”

FCI, previously known as Factors Chain International was established in Amsterdam in 1968 as a non-profit global association for factoring and receivables finance companies. Today, it is recognised as the world representative supporting the interests of the industry. With close to 400 members in 90 countries, FCI members account for nearly 90 percent of global cross-border factoring volume.

FCI supports the industry with three major pillars:

Connect: the business network supports cross-border factoring activities and reverse factoring business through which its members co-operate as export and import correspondent factors

Educate: FCI promotes and develops best-practice in domestic and international factoring, and related open account receivables finance products

Influence: FCI promotes and defends the industry with stakeholders and policymakers worldwide

Prior to joining FCI, Mulroy was managing director of CIT’s factoring business unit in the US, a $50bn-plus financial services company. At the time, it was the largest factoring company in the world in terms of global volume. Mulroy also served on CIT’s management committee, supporting the company’s global growth strategy.

He came to CIT through the acquisition of the factoring unit of SunTrust Bank, where he had developed its international factoring business. He has worked and lived in the US, Europe, and the Middle East. He graduated from Rutgers University in New Jersey, studied at the Universität Konstanz in Germany, and earned his MBA from Thunderbird School of Global Management in Arizona.

Peter Mulroy can be reached at fci@fci.nl and more information can be found at www.fci.nl