BAFT and IFSA announce merger

The Bankers’ Association for Finance and Trade (BAFT) and the International Financial Services Association (IFSA) announced that the two entities have merged, effective today. Members of each respective organization voted overwhelmingly in favor of the merger last month. Both BAFT and IFSA bring outstanding pedigree in the world of payments and international trade and finance. Their combination creates the preeminent organization of its kind in the world and will provide the international financial services community with comprehensive representation; broader, deeper expertise; and expanded resources.


BAFT-IFSA will continue to focus both on the broader issues affecting regional and global transactional banking services, such as trade, payments and cross-border financing, and training and operations technology—the crucial inner workings of any organization. Bringing the two entities together under one umbrella gives the combined association increased breadth, depth and influence.

Donna K. Alexander, BAFT president, is now chief executive officer of BAFT-IFSA, while Dan Taylor, IFSA president and CEO, is now president and chief operating officer of BAFT-IFSA.

Alexander noted that the value proposition of the merger for members will include instant access to a wider range of products, services, programs, training, global practices, advocacy opportunities, economies of scale, and future rationalization of membership fees.

“The combined organization yokes the unique strengths of BAFT and IFSA, increasing our ability to grow and expand membership and provide programs and services to a broader global market,” said Alexander. “Members of BAFT-IFSA will benefit from a financially stronger organization with greater influence around the globe.”

Taylor echoed these sentiments, noting that the merger further strengthens existing relationships with regulators and other policy makers.

“The merger takes full advantage of the over 170 years of banking and advocacy experience of the two organizations and expands and integrates the international community around the world.”

For nearly nine decades, BAFT has taken on regional challenges faced by bankers that specialize in international trade and finance, advocated on their behalf and developed business solutions and helped build valuable peer-to-peer relationships. Its regional councils provide insight into markets around the globe, and its information resources increase members’ understanding of developments affecting the industry.

For 85 years, IFSA has met the needs of those who provide, use and support the international operations areas of financial services providers, their customers, suppliers and partners. IFSA has represented the interests of its membership before international rule and lawmaking bodies and has been a key player in the establishment and revision of every significant U.S. or international law or rule governing global financial services.

“We are committed to taking the best of each organization, as well as using the merger as an opportunity to find new ways of approaching issues and providing services,” said Alexander. “No part of either organization or its work will be discontinued.”