As reported in the AFR, CommStream, the company that provides Australian farmers access to alternative capital for farm expansions and on-farm productivity, has appointed a new chief executive and and director of risk.
Former chief executive for the Peanut Company of Australia, John Howard, will be CommStream's new CEO. Mr Howard managed and negotiated the sale of the PCA business to the ASX-listed Bega Cheese.
CommStream's new director of pricing and risk will be John Reeve, whose career in international commodity markets includes eight years in Singapore with UBS, Standard Chartered Bank and Goldman Sachs. Prior in Australia, he established agri-commodity risk management franchises nationally for the Commonwealth Bank of Australia.
CommStream's co-founder and executive director Charlie Blomfield said the two senior appointments reflected the company's commitment to forging a new, exciting and differentiated source of capital for Australian farmers.
Capital provided by CommStream is generally used to develop existing land, fund expansion or aid succession planning, and is repaid with physical agricultural commodity delivery over a five- to 10-year term.