It is ironic that as US Ex-Im celebrates 75 years of supporting US exports, the many of the reasons for its founding in 1934 – as a response to the Great Depression – have again reared their heads. As with other major economies, the United States (US) is lumbered with a recession, high unemployment, and depressed consumer demand. The focus falls on government agencies to provide direction. As an export credit agency, US Ex-Im has, over the years, had to adapt to the needs of US manufacturers and exporters, and the financial institutions that service them. As with the wider trade finance sector, the bank’s fortunes are countercyclical and now more than ever the market requires innovation and a renewed sense of purpose.

The chairman’s position at the bank is a presidential appointment, and the Obama administration named name Fred Hochberg, formerly of the Small Business Administration under President Clinton, who...