AFEX hires FX industry veteran

AFEX, a major global non-bank provider of global payment and risk management solutions, has appointed Ramnath Ramhit as its head of integrated solutions for Europe, the Middle East and Africa (EMEA). Ramhit, who has over 25 years of experience in the corporate foreign exchange industry, will focus on integrating AFEX’s foreign exchange (FX) and payments infrastructure with clients’ accounting and enterprise resource planning (ERP) systems using its application protocol interface (API) technology.

The company said the new role was created in response to increased demand from corporate clients with high payment volumes looking to streamline their payments processes, from commercial partners such as trade finance, international payroll and legal firms, and also start-ups

Ramhit joins from HSBC, where he was a director within the investment bank, responsible for the FX and interest rate needs of corporate clients. Previously, he was part of the team that founded Thomas Cook Financial Services’ corporate FX division in the early 1990s which launched the world’s first online FX payment platform. Following its acquisition by Travelex in 2000, he joined Travelex’s EMEA leadership team, responsible for dealing sales and customer relationship management. Ramhit is based in AFEX’s London offices and will report to Tony Rea, EMEA sales director.