BAFT-IFSA will continue to focus both on the broader issues affecting regional and global transactional banking services, such as trade, payments and cross-border financing, and training and operations technology.
Donna Alexander, president of BAFT, will become CEO of BAFT-IFSA, while Dan Taylor, president and CEO of IFSA, will become president and COO of BAFT-IFSA.
Mr Alexander noted that the value proposition of the merger for members will include instant access to a wider range of products, services, programs, training, global practices, advocacy opportunities, economies of scale and future rationalization of membership fees.
Mr Alexander said: “The combined organization yokes the unique strengths of BAFT and IFSA, increasing our ability to grow and expand membership and provide programs and services to a broader global market. Members of BAFT-IFSA will benefit from a financially stronger organization with greater influence around the globe.
“We are committed to taking the best of each organization, as well as using the merger as an opportunity to find new ways of approaching issues and providing services. No part of either organization or its work will be discontinued.”
Mr Taylor said: “The merger takes full advantage of the over 170 years of banking and advocacy experience of the two organizations and expands and integrates the international community around the world.”
