NAFER is grateful to have East West Bank as a Diamond Sponsor for our Oct. 18-20th Annual Conference! Here are a few things you can learn about them and the services they offer:
For a new NAFER member who may not be familiar with your company and/or its solutions, can you tell us a bit about how your company/organization formed and it's key value propositions to receivers?
Headquartered in California, East West Bank is a top performing commercial bank with exclusive focus on the United States and Greater China markets. East West Bank is one the few American banks that have a full banking license in China; it operates in more than 130 locations across the United States with branches/offices in California, Georgia, Nevada, New York, Massachusetts, Texas and Washington. In the Greater China Region, East West has locations in Hong Kong, Shanghai, Shantou, Shenzhen, Beijing, Chongqing, Guangzhou, Taipei, and Xiamen.
East West Bank’s Specialty Deposit Services group provides nationwide private banking services for court appointed fiduciaries such as federal equity receivers.
Are there any specific industry topics you'd like to discuss as we look towards the NAFER conference to showcase your viewpoint(s) as a service provider for many in this industry?
Maximizing return to the estate: with the anticipated continued rise in interest rates, now is a perfect time to review the return that is accruing on receivership estates.
What are some tools that you feel are unknown or underutilized to some clients/NAFER members that you provide that you feel would be beneficial to be exposed to for their practice?
Banking products such as foreign exchange and positive pay. With the global economy we operate in, foreign exchange trades are a large part of the corporate world. Maximizing foreign exchange return is an essential tool receivers.
Positive pay is an automated fraud detection tool. In its simplest form, it is a service that matches the account number, check number and dollar amount of each check presented for payment against a list of checks previously authorized. All three components of the check must match exactly or it will not pay. It is an essential tool for receivers making large distributions.
What have you found to be most valuable in your membership in / involvement with NAFER?
The development of new relationships and the strengthening of existing relationships; as well as the sharing of ideas. The NAFER organization and the structure of events is very conducive to networking; which, of course, facilitates productive dialogue; ultimately resulting in us learning more and becoming better professionals.