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RICHARD MAXWELL APPOINTED NEW HEAD OF EX-IM BANK TRADE FINANCE AND INSURANCE DIVISION

FOR IMMEDIATE RELEASE October 13, 2003

Media Contact Name/Phone: 

Marianna Ohe (202) 565-3200

Richard Maxwell, a senior manager with broad experience in international banking, lending, and political risk and trade credit insurance, has been named vice president and head of the Export-Import Bank of the United States (Ex-Im Bank) Trade Finance and Insurance Division. Maxwell comes to Ex-Im Bank from GMAC Commercial Finance LLC, where he was senior vice president of the Risk Management, Commercial Services Division.

Maxwell's strong risk and relationship management expertise, knowledge of international political and financial markets, and demonstrated leadership ability over 25 years ideally qualify him to help Ex-Im Bank in its mission to support U.S. exports and jobs, said Jeffrey L. Miller, senior vice president of Ex-Im Bank's Export Finance Group. The Trade Finance and Insurance Division falls within Miller's group.

Before joining GMAC Commercial Finance in 2002, Maxwell was senior vice president of commercial underwriting at Euler American Credit Indemnity (EACI). From 1983 to 1997, he held a variety of positions at American Express Bank LTD (AEB), ending as senior director/manager-North America, international trade finance. He began his career at the Foreign Credit Insurance Association (FCIA).

Maxwell received his masters degree in international economics from West Virginia University and a bachelors degree in economics from West Virginia Wesleyan College.

Ex-Im Bank is an independent federal government agency that helps finance the sale of U.S. exports, primarily to emerging markets throughout the world, by providing loan guarantees, export credit insurance, and direct loans. In fiscal year 2003, Ex-Im Bank authorized financing to support approximately $14.2 billion of U.S. exports worldwide.