The new Lithuanian financial market player Vilnius Factoring Company has formed an executive team. Seven managers with a lot of experience in the financial sector joined the team of a cash flow financing solutions company established in Lithuania in June. The company is growing rapidly in Lithuania and currently employs 17 people. Its CEO is Renato La Fianza.
The company is managed by Renato La Fianza who has 14 years of experience in the financial sector in the UK and Italy. He has held a management position in Mediobanca and has worked for companies operating in international markets such as Merrill Lynch, UniCredit and others.
Mindaugas Stasionis, who held a management position in Swedbank, has become Deputy CEO of Vilnius Factoring Company. Nerijus Andrijauskas, who managed factoring business Danske Bank, holds the position of Director Commercial, and Paulius Jokšas, who had a management position in factoring in Swedbank, holds the position of COO.
Darius Kuzmickas became the CFO of Vilnius Factoring Company, having accumulated management experience at Danske Capital and Kreda. Daiva Lideikienė, former manager of the credit unit at DNB, took the position of Chief Risk Officer. Lijana Štarienė, previously having worked at Danske Bank GSL, has been appointed as Head of Legal and Compliance and Kristina Rinkevičienė, who previously worked at Medicinos Bankas, has been appointed Internal Audit Manager.
“Highly skilled experienced professionals are one of the main reasons that helped us make the decisions about investment and business development in Lithuania. By combining foreign capital and local team knowledge, we can offer high value-added working capital financing solutions for small and medium-sized businesses. It is also a good basis for the consistent development of financial instruments,” says Renato La Fianza, CEO of Vilnius Factoring Company.
According to him, during the first four months of operation the company managed not only to build a strong team, but also to start working smoothly with Lithuanian companies. “At the time of its establishment, the company’s authorized capital was 5 million euro, but soon it was increased to 10 million euro. The analysis of the market situation and potential which we conducted with the consultants during the establishment of the company showed that flexible and attractive cash flow financing solutions are needed in the Lithuanian market. The results of the first months of activities and the visible potential only confirm that,” says Renato La Fianza.
Vilnius Factoring Company main service, factoring, is relevant for companies operating in the business-to-business segment with a payout period longer than 15 days. The factoring service allows the company to receive up to 90 percent of the invoice amount before the settlement date, thereby ensuring financial stability and risk management.