Congress Talcott in HK venture. (factoring company for clothing exporters)

Daily News Record, October, 1990

CONGRESS TALCOTT IN HK VENTURE

NEW YORK (FNS) - Congress Talcott Corp. will offer a package of factoring and financial services to Hong Kong exporters through a joint venture with the Hong Kong branch of State Street Bank & Trust of Boston.

Under the new venture, the Hong Kong branch will provide direct financing based on the factor's ability to guarantee and manage U.S. accounts receivable.

"This two-pronged approach provides the Hong Kong exporters the ability to offer open account terms to their U.S. customers," said Jerome M. Kenyon, Congress Talcott's president.