Julie Bishop takes job with Greensill, the firm pushing controversial financing practice
- jamessnow321
- Jan 16, 2020
- 1 min read
The former foreign minister Julie Bishop has taken a job with financing group Greensill, which specialises in the controversial practice of reverse factoring.
Reverse factoring, also known as supply chain finance, is a practice where suppliers to big business can get paid early by a company such as Greensill in return for a fee.
The Greensill founder, Lex Greensill, would like to expand the idea to take in wages, and in November met with the prime minister, Scott Morrison, to suggest it could be applied to the 150,000 people working for the commonwealth public service.
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