When lending money, insuring credit risk or taking payment risk, there is always the possibility of the unexpected problem. Even in what might appear to be the "most secured" deal, unforeseen difficulties may arise which can lead to a "distressed situation" or even to a default.
Providing credit goes hand in hand with taking risk. When problems occur and a customer runs into difficulties or is in default, it is essential to consider actively all the options as to what needs to be done and by whom, in the most efficient way, in order to limit the loss and optimize the recovery.
Handling distressed situations is a fulltime job, requiring specific workout experience, as well as the capacity to coordinate internal and external parties such as lawyers, surveyors, storage managers, government bodies etc, to ensure the very best recovery solutions. It often involves frequent travel, possibly over long distances, and sometimes for unpredictable periods of time.
We strongly believe that our company’s name, VPG SA, Value Preservation Group, represents our philosophy and objectives. Our job is to ensure that loss is minimised and compensation recovered as far as possible for our clients. The same solution is not always applicable, nor is a single solution always applicable, even when dealing with the same country, even when dealing with the same commodity, or even when the same type of financing is involved. That is why VPG provides "tailor made" solutions for each and every case so as to enhance and permit the best possible recovery for our clients.
Philippe Ziegler, Founder (2012) and MD of Captiva Corporate Finance SA, was previously Head of Energy & Commodity Finance of BNP Paribas in Switzerland from 2008 until 2012. During his thirteen years with the Bank, he was also in charge of the Credit Department and the Collateral Management Team including Workout. Before that, Ph. Ziegler spent seven years (1993-1999) with ING Bank in Switzerland as head of the Commodity Finance Department. Previously, he was CFO of a large family owned freight forwarding group in Belgium (1987-1992). He began his career in 1982 with Banque Paribas in Geneva followed by a two years tenure with Swiss Bank Corporation in New York. Mr. Ziegler has a Bachelor and a Master in Economics & Social Sciences from University of Namur (B) and followed a Post-Graduate Program in International Economy at the Graduate Institute of International and Development Studies in Geneva.
Xavier Cancer has been working as an Independent Financial Advisor for the past three years, creating and managing Synthesia Int. Inc., which provides various services to commodity related companies. Previously, Mr Cancer was in charge of the Agricultural Commodities Department for EMEA at BNP Paribas in Switzerland being also responsible for Paris and London soft commodities portfolios. From 2005 to 2008, he headed the workout department in the same bank and recovered tens of million dollars on bad loans from various regions of the world. Prior to these three years, Mr Cancer had been Sector Manager and then Head of the International Trade Department at Crédit Lyonnais (5 years in each department) where he developed considerable credit risk awarness and experience within the soft and energy financial services. Mr Cancer holds a Swiss Banking Diploma and an Executive MBA in Business Administration from European University.
Timothy Espir, Managing Director of Timesco SA was from 1991 till 2014 the main shareholder and Managing Director of Socadec SA. He sold the company to the Touton Group in Bordeaux in 2014 and continued to manage the business until June 2017. From 1985 to 1991 Mr Espir worked for Sodechanges SA Geneva, a commodity trading and countertrade company owned by Renault and Aerospatiale of France, where he managed the coffee trading department. In 1991 Mr Espir made a management buyout and formed Socadec SA, Sodechanges remained as minority shareholders until 1996. Mr Espir began his career in one of the largest multinational soft commodity trading companies, S & W Berisfords London in the coffee trading department from 1981 to 1984 after having studied business at Middlesex University.
March 2018 - VPG SA