They keep alive their LC love. Keep alive? Yes, they continue to take interest in LC matters even after their retirement from their bank. They are retired but not tired. After the retirement their interest is not restricted to keep knowing, through online/offline armchair reading, what is happening in LC world, but they keep using their experiences, knowledge and skills in LC matters. They advise. They guide. They suggest. They lecture. They inspire. They advise ICC and its national committee in their country in UCP matters . They educate LC specialists for using international standard banking practice. They advise budding LC specialists for precise and concise LC issuance, for controversy-free and unbiased document examination. They guide exporters for error-free documentation. They guide importers for low-condition LC applications - because LC LC, i.e. low-condition LC, is the need of the hour. WHO ARE THEY? They are five in number and constitute G-5 - Group of 5. Two are from North America, two from Europe and one from Asia. OK, but Who 5? See below. And why 5 only? Because they are world-famous for their inspiring contributions to LC world. Because they are a lesson for budding LC specialists.

Reinhard Langerich in his autobiography submitted to Ravi Mehta, LC VIEWS' editor, writes: "Retired from Nordea on 30th January 2004, but keeping my membership of ICC and all relations with other national and international activities, like seminars, consultancy and dispute solving."

In the biography of Vincent Maulella, submitted by the US-based Institute of International Law and Practice to Ravi Mehta at his request, it is said: "Having retired from the Chase Manhattan Bank, he serves the market by working independently and through a number of organizations active in a policy role for letters of credit and related trade matters".

Donald Smith represents the US banking community in the International Chamber of Commerce's Commission on Banking Technique and Practice, where he co-chaired the ICC Working Group charged with documenting International Standard Banking Practices. He is a member of the Consulting Group working on the revision of the UCP500 .

Alan Liu is a guest speaker in Taiwan Academy of Banking and Finance .

G-5 IS A LESSON

Their inspiring biographies speak their past and present LC life - what they were and what they are now. Their biographies are lessons for budding LC specialists. They teach lesson of becoming achievement-oriented for LC carrier development, lesson of becoming a good LC specialist, lesson of making contributions to promotion of LC-based international trade for economic development, lesson of conformity with the set LC rules and practices for rightful use of LC for maintaining its good reputation as a safe trade payment mechanism.

God bless G-5!

FIVE CHARACTERISTICS OF G-5

1. .They are professionally knowledgeable and skilled , and strive for excellence.
2. They are achievement- oriented and inspiring.
3. They are well experienced in handling LC situations
4. They are rule-directed - follow the set LC rules and practice.
5. They are helpful - to trade/financial/banking associations/institutions

G-5 BREEDS GOOD LC SPECIALISTS

Good LC specialists breed good LC specialists. Good LC specialists inspire budding LC specialists to become a good LC specialist. Achievement-oriented budding LC specialists emulate the world-renowned good LC specialists to become a good LC specialist. For example, Daniel Reiste, a US banker and CDCS - LC Adviser to the Miami area Financial Institutions Risk Management Association(formerly known as IBOA, International Bank Operations Association) and a member of the IFSA South East Commercial Letter of Credit Committee - has become a good LC specialist as a result of the influence of the inspirations of the world- renowned US-based LC specialist, DONALD SMITH. About Donald Smith, Daniel Reiste says: "I met Don Smith several years ago through IFSA functions. His factual understanding and unique perception of letter of credit operations, in theory and in practice, complimented by distinctive communication skills have encouraged me in my career. Don has faithfully made his wisdom and opinions available in my times of need and has proved to be an inspiring mentor". About Daniel, Don says in his e-mail message to LC VIEWS' editor Ravi Mehta: "Ravi - Dan Reiste is one of the "bright lights" in the LC business in the US".

Daniel Reiste - the Don factor shapes his LC management style

Another example,  Kim Christensen, a trade finance specialist in Denmark, working for Nordea. Reinhard Langerich, a worldwide known LC specialist, is a role model for Kim Christensen. Kim says: " Reinhard has influenced my way of perceiving the L/LC -  no doubt he has been my master and mentor."

Kim Christensen - a product of Reinhardization

The LC specialists all over the world, particularly in transition and developing economies,  need to internalize the good LC specialist qualities like Donald Smith's or Reinhard Langerich's , to be a good LC specialist in order to do good to their country in its attempt to promote its international trade for economic development. The best example of Donaldization is Daniel Reiste.  The best example of Reinhardization is Kim Christensen. He is modeling his LC management style on Reinhard Langerich's.   A low-income country can prosper if its LC specialists become high-quality LC specialists like Donald Smith or Reinhard Langerich. The countries doing LC-based international trade need Dons, Vins, Reinhards.....

Donald R. Smith, popular by the short name of Don, is Vice President for Client Services at Norman Technologies, a Charlotte, NC- based (North Carolina, USA) IT Consulting firm. Prior to joining Norman Technologies, he was Vice President, Global Product Management, Citibank's e-Business Global Trade Finance and Services Division. His primary responsibilities included the coordination of global trade product programs and global trade marketing, internal and external trade training, and coordination with operations, risk management and regulatory compliance. Mr. Smith began his banking career in 1973 with Central Fidelity Bank. Prior to joining Citibank, N.A. in 1989, he held positions as head of International Operations for First Union National Bank and as International Division Executive for TrustCorp Bank.

Mr. Smith was a member of the Board of Directors and the Executive Committee of Citicorp International Trading Company and of the International Financial Services Association. He is Chairman of the Banking Committee of The United States Council for International Business and represents the US banking community in the International Chamber of Commerce's Commission on Banking Technique and Practice, where he co-chaired the ICC Working Group charged with documenting International Standard Banking Practices. He is a member of the Consulting Group working on the revision of the UCP500. Mr. Smith is a member of the Editorial Board and the Editorial Advisory Board of Documentary Credit World. He is also on the editorial board of LC VIEWS. He was a member of the working group that created the International Standby Practices (ISP98) and has trained as an Arbitrator for the International Center for Letter of Credit Arbitration, Inc. (ICLOCA). Mr. Smith is also former Chairman of the Board of Directors of Metropolitan Baptist Ministries.
e-mail: don@normantech.com

His Banking Career. He started his banking career in 1963 in Privatbanken (one of the three banks, who in 1990 merged to Unibank A/S) in the Documentary Credit Department, including Guarantees and Documentary Collections and all Trade Finance Business. In 2000 Unibank merged with further 3 Nordic Banks to Nordea.
1987 Vice President. Until May 1997: Head of Unibank's Trade Finance Customer Group for Large Corporates with responsibility for the handling of all Trade Finance Products with regard to Products, Management, Marketing and Earnings. Author of Unibank's publications on Documentary Credits and Guarantees (in Danish and English).

From May 1997: Technical Advisor for Trade Finance Products in Unibank (Global) and acting as Expert on all Trade Finance Products, especially with respect to the interpretation of ICC's Rules: UCP, URDG, URC and ISP)

Author of Unibank's book "Documentary Credit in Practice" (Danish) 2000. From 2000 maintaining the same function for Nordea (the merger between Unibank (Denmark) Merita (Finland, Nordbanken (Sweden) and Christiania Bank (Norway). Author of Unibank's book "Documentary Credit in Practice" (English) 2001. Acting - outside Unibank / Nordea - on the request from other banks - as consulting expert and as expert witness.

Participating in National and International Seminars, Surveys, Conferences etc. by giving lectures, presentations or attending the panel. Seminars held by ICC, different Chambers of Commerce or other Institutions. Participating in the International discussion regarding Documentary Credits etc. through articles and publications. Acting as Expert Witness in several International Court cases

His ICC activities: Member of ICC's Banking Commission since 1987. Regularly acting as Expert on Documentary Credits etc. or ICC's Centre of Expertise. Appointed in 2000 (together with further 3 persons) to assist The Technical Adviser of the Banking Commission to answer queries (Educational). Member of ICC's Working Group for model forms under URDG Demand Guarantees (1992-94). Member of ICC's first Group of Experts (UCP 500) (1994-95). Member of ICC's Working Group for DOCDEX (a Documentary Credit Conflict  solving system) (1995 - 97). Member of ICC's Working Group on the Application of UCP 500 in Asia (1996-97).
Member of ICC's Working Group on ISP 98 Standby Rules (1997-98). Member of ICC's Working Party (ECP & ECT) regarding development of Electronic Trade Practice (1998 - 2001) . Member of ICC's Working  Group on International Standard Banking Practice (2000 - 2002). Member of ICC's Task Force for review of UCP 500 (2002 - 2003). Member of ICC's Task Force for the revision of UCP 500 (2003 ) Consultative Group.

His services to the United Nations . Member of EEG4, Documentary Credits Project Team covering Documentary Credits and Collections under EDIFACT (1989 -) Officially the project team is not dismissed, but is not supposed to continue.

On Retirement . Retired from Nordea on 30 January 2004, but keeping his membership of ICC and all relations to other national and international activities, like seminars, consultancy and dispute solving.