Due to the surge in demand for Klapton’s maritime sureties product offerings, Klapton is pleased to announce the formation of a specialist Maritime Sureties Committee to focus on this business line.

This Committee will be chaired by Russell Parker (a career banker of over 35 years standing, Russell brings 20 years experience in the global maritime finance sector. He is the former Head of Lloyds Banking Group’s Ship Finance Business, having previously overseen the growth of HBOS’ Shipping portfolio prior to the merger with Lloyds. Russell has also held senior positions in Bank of Scotland’s Project Finance and Oil & Gas divisions and possesses an MSc in International Banking. Russell is also a Director of Edinmar, a private Ship Finance consultancy firm).

In addition, Klapton has also appointed Douglas Newton as Head of Sector, Maritime Sureties as well as joining the Committee. (Douglas is a seasoned banking professional with over 30 years experience in the industry. He has over 17 years of expertise in the global Maritime Finance sector. As a senior member of the Ship Finance management team in HBOS,Douglas was instrumental in developing and growing the bank’s involvement in the marine finance sector. Post-merger with Lloyds Banking Group he retained a senior position in Ship Finance, and had an integral involvement in delivering on the strategic objectives set by the board. Douglas is a Member of the Chartered Institute of Bankers in Scotland and Director of Akumal Consulting Limited.)

Mike Lawson (Chairman of the AFI Committee) will also be joining as a member of the Maritime Sureties Committee. (Mike brings over 15 years experience within the Structured Asset Finance arena (including transportation) at Lloyds Banking Group, initially as a Finance business partner and more recently as Head of Strategy and Transactional Management, covering the sale and distribution of non-strategic assets (including the disposal of c $15bn maritime portfolio, primarily of structured debt and lease backed vessels).

Klapton believes these appointments demonstrate our commitment to this specialist market and that our niche and flexible surety product offerings provide much needed credit enhancement and protection which is lacking in the current maritime market place. Initially, we will major in Residual Value Insurance and Charterhire Guarantees and will develop the product offering as the business evolves in order to provide bespoke solutions to our clients.

For any maritime inquiries please contact Russell and Douglas at
Russell.parker@klapton.com and Douglas.newton@klapton.com