David Beringer

David Beringer

David is a Chartered Accountant with over 25 years of commercial finance experience in international and entrepreneurial businesses. He is knowledgeable and conversant across a wide range of business and commercial topics. David understands and can fix complex business and commercial issues. He has expertise in international business accounting, international tax (transfer pricing, intercompany financing and structuring, indirect tax), financial management and control issues, and controlling commodity trading activities.

David trained as an accountant focusing on general corporate tax matters in London, and then on international tax matters in Bahrain with Ernst & Young. On returning to London he briefly joined ED&F Man Group before taking a role at Amerada Hess Ltd focusing on upstream oil & gas tax matters in Europe, North Africa & Asia. David subsequently forged a global career with Noble Group Ltd, a diversified commodity trader, in Hong Kong as Head of Tax and ultimately their Group Finance Director.

At Noble Group David worked on various projects including:

  • Developing and implementing a group corporate reorganisation to tax efficiently hold key group subsidiaries.
  • Developing and implementing transfer pricing policies for the group and successfully defending transfer pricing audits in Australia and Switzerland and reviews by auditors.
  • Designing and implementing an intercompany lending structure to enable subsidiaries to get interest tax deductions and minimise withholding taxes on interest payments.
  • Designing and implementing an intercompany lending structure to enable subsidiaries to get interest tax deductions and minimise withholding taxes on interest payments.
  • Working closely with the commodity trading divisions (including grains, coffee, cocoa, coal & coke, carbon credits, crude oil, natural gas, power, & oil products) to implement the most cost and tax efficient trade booking structures./li>
  • In group accounting David improved the quality and timeliness of reporting to make the business more scalable, and to improve management decision making.
  • In IT drove the implementation of new systems with a heavy emphasis on front end trading systems for crude oil, gas, power, grains, coal, coffee and the other commodities traded. David recognised that straight through processing was required so the front office trade capture systems would feed the risk, operations, accounting and treasury systems driving business efficiency and accuracy. He also drove the implementation of an order management system to capture and electronically match futures orders, and subsequently interface with the front office trade capture systems
  • Worked with trading teams to ensure physical and futures business was being booked in the same companies to allow for netting and tax deductions.
  • Developed the Middle Office structure where a team was validating the trades (physical and futures) and position prior to the operations function then executing the business.

On taking a step back from this role, David began to pursue a portfolio career and leverage his extensive senior finance experience to offer ongoing and current independent financial consultancy to Sucafina SA, Gerson Lehrman Group and others.

David has driven a project for Sucafina SA (a green coffee trader based in Switzerland) to acquire a Belgian coffee roaster with a complex Italian holding structure and un-cooperating shareholders. David performed a review of the target business, provided pricing recommendations and assisted with the purchase negotiations. David managed the due diligence process, the negotiation of the purchase agreement and the closing. David negotiated a term sheet and then a shareholders’ agreement to enable the management of the Belgian company to invest alongside Sucafina. David then liquidated the Italian holding structure. David has recently assisted Sucafina with developing and implementing transfer pricing policies and documentation.

The issues David has worked in the course of his career to date have been very diverse and challenging and have given him considerable experience in clarifying and implementing robust financial and business strategies in often rapidly expanding complex environments.

David has successfully worked with people from different cultures and had to understand, work with and take decisions involving different laws and practices in order to make business happen.

David graduated with a BEng degree in Biochemical Engineering from University College London. He is a Fellow of the Institute of Chartered Accountants in England & Wales and has a Diploma in International Treasury Management from the Association of Corporate Treasurers.

Email: [email protected]
Phone: +44 7850 444702

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