UK-based financial services company Pinewood Media, which provides global foreign exchange, currency transfer, international payments and risk management to the film, TV and new media industries, has recently launched a new collection account manangement (CAM) service.
The service lets Pinewood Media (which is not tied to Pinewood Studios) to allocate international revenue streams to financiers, producers, sales agents and other parties.
Pinewood's CAM services offers competitive foreign-exchange rates and has live on-line monitoring systems. The back-room facility is operated in trust accounts by the Royal Bank of Scotland.
Managing director Richard Wawman, a film and TV production veteran, launched Pinewood Media in October 2006. The outfit also has a North American desk with currency exchange traders.
Wawman noted that Pinewood was able to take a much smaller commission than banks on foreign exchange and related services. He noted that Pinewood was already working with about 50 UK companies.
'It normally costs 1% to do collection agreements,' Wawman told ScreenDaily.com. 'But because we're already doing foreign exhange, we write into the collection agreement a very small commission on foreign exchange.'
Oliver Rothschild is the company's honorary chairman and Alex Sullivan is chief dealer.
Pinewood Media may soon move into gap financing as well. 'We're in discussion with hedge funds and investment companies to set that up,' Wawman says.
The service lets Pinewood Media (which is not tied to Pinewood Studios) to allocate international revenue streams to financiers, producers, sales agents and other parties.
Pinewood's CAM services offers competitive foreign-exchange rates and has live on-line monitoring systems. The back-room facility is operated in trust accounts by the Royal Bank of Scotland.
Managing director Richard Wawman, a film and TV production veteran, launched Pinewood Media in October 2006. The outfit also has a North American desk with currency exchange traders.
Wawman noted that Pinewood was able to take a much smaller commission than banks on foreign exchange and related services. He noted that Pinewood was already working with about 50 UK companies.
'It normally costs 1% to do collection agreements,' Wawman told ScreenDaily.com. 'But because we're already doing foreign exhange, we write into the collection agreement a very small commission on foreign exchange.'
Oliver Rothschild is the company's honorary chairman and Alex Sullivan is chief dealer.
Pinewood Media may soon move into gap financing as well. 'We're in discussion with hedge funds and investment companies to set that up,' Wawman says.
No comments yet