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MUFG Hires Veteran Banker to Bolster Supply Chain Finance Group

June 11, 2019, 07:15 AM

Mitsubishi UFJ Financial Group (MUFG), Inc. announced it has hired Deborah Bennett as a Managing Director to join the bank's Supply Chain Finance group in the Americas.

Based in New York, Bennett will report to Maureen Sullivan, Head of MUFG's Supply Chain Finance business for the Americas. MUFG's Supply Chain Finance group provides account receivables and payables solutions for both buyers and sellers to help meet their respective short-term working capital needs.

In her new role, Ms. Bennett will assume responsibility for engaging suppliers of MUFG's clients and enrolling them in the bank's supply chain finance program.

"Deborah's experience in supplier acquisition and on-boarding will amplify MUFG's commitment to buyers and suppliers alike, ensuring that each program we deliver is optimal for all stakeholders involved," Sullivan said. "These stakeholders also include treasurers, procurement staff and accounts-payable personnel on the buyers' side."

Before joining MUFG, Bennett spent nearly two decades at Citigroup in a number of related roles. Most recently, she oversaw supplier marketing and on-boarding as the firm's Global Head of Working Capital Finance, overseeing a worldwide team of more than 50 professionals.

Bennett earned an MBA from Columbia Business School and a B.Sc. in Business from Indiana University's International Business Program.

Earlier this year, MUFG acquired Trade Payable Services (TPS), a leading supply-chain finance platform, from GE Capital to enhance the bank's capabilities and broaden its coverage in the supply-chain finance business. With the addition of TPS, MUFG is now able to deliver a robust suite of working capital solutions that address clients' growing needs to optimize short-capital positions.

MUFG is the world's fifth-largest financial institution by assets with approximately $2.7 trillion.

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