De Beers Courting New York City Banks

New York: With financial institutions expressing continued reluctance to lend to the diamond industry De Beers is holding an event to reach out to New York City bankers.

Howard Davies, head of De Beers’ commercial department, has invited local financiers to a Bankers Executive Briefing on Oct. 1 at a Manhattan hotel. The company veteran will brief attendees on the diamond business and his employer’s new transparency and financial compliance criteria for clients.

The event will also cover the outlook for rough diamond supply and jewelry retailing.