Credit, Collections & Insolvency News
A Responsible Finance Provider (RFP) is set to be wound down after Duff & Phelps was appointed as administrators. Midlands Community Finance was one of the first RFP in the East Midlands when it was set up in 2003. Midlands Community Finance was set up to make loans to financially excluded individuals and businesses that…
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The Government’s BEIS Select Committee has launched an inquiry into SME Finance supply chain bullying and small business productivity. Commenting on the launch, Stephen Pegge, Managing Director of Commercial Finance at UK Finance, said “SMEs play a key role in driving innovation, productivity, employment and economic growth across the UK which the finance sector is…
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Aldermore has announced the expansion of its asset finance lending team with the appointment of Nick Dudley as Head of Business Development for Dealer Services, a newly created role within the Bank’s Business Finance division. Dudley will be responsible for partnership accounts across a variety of industry sectors, with a particular focus on transportation and…
Read moreThe P2PFA has published data showing that in the period ending in the fourth quarter of 2017, cumulative lending transacted through P2PFA member platforms exceeded £8 billion. Commenting on the data, Robert Pettigrew, Director of the P2PFA, said “The final three months of 2017 saw considerable growth in levels of new lending transacted through platforms…
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Four out of five finance professionals have said that their department is not keeping pace with the rest of the organisation’s digital transformation plans, leaving them struggling with productivity, cost and efficiency issues, according to new UK research among senior finance and IT executives. IT which most commonly leads digital transformation said finance was the…
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Rivers Leasing has announced it has appointed a former Managing Director of Arkle Finance to its management team. Stephen Bassett, former Managing Director of Arkle Finance, joins as Non-Executive Director. With much of his career spanning senior management and directorship roles at organisations including Schroder Leasing Ltd, Lloyds & Scottish Finance, Lombard, Wyse Leasing Plc…
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Zopa, has announced the appointment of three new hires to its Executive team. The new hires come at a significant time in Zopa’s growth as it moves towards launching its next-generation bank. Steve Hulme has been appointed Chief Financial Officer. Hulme joins from Tandem Money where he was CFO for the last two years. Before…
Read moreFollowing on from Investec’s acquisition of Amicus Commercial Finance in December, the company has announced that Amicus will be rebranded as Investec Capital Solutions. Investec Capital Solutions will form part of Investec’s Corporate Lending team. John Wilde, Managing Director of the rebranded company said “We are excited to be part of the Investec brand, completing our…
Read moreFollowing a review of its commercial finance proposition, peer-to-peer lending platform RateSetter has announced that it is going to simplify its commercial finance product suite to focus solely on property-backed and asset-backed lending. RateSetter will continue to offer lending into consumer, business and motor finance markets, however, the commercial finance offer will no longer include…
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Henry Howard Finance has announced that Mark Catton, has been appointed as the new group Chief Executive of Henry Howard Finance Group, Catton is a former Chief Executive of RBS’ UK corporate bank. Catton will take over from the current group CEO and co-founder Mark Crook. Reflecting on the recent successes of the business, Mark…
Read moreThe Financial Conduct Authority (FCA) has today launched a consultation on plans to give more small businesses access to the Financial Ombudsman Service (FOS). This follows a review of the protections available to small and medium-sized enterprises (SMEs) as users of financial services. At the moment only individual consumers and around 5.5 million micro-enterprises (the…
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Business Secretary Greg Clark has welcomed a decision by several banks to set up funds to support small businesses affected by Carillion’s insolvency. Lloyds Banking Group has launched a £50 million fund, HSBC a £100 million fund and RBS has made £75 million of assistance available. It follows a meeting held by Greg Clark yesterday with banks where…
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Metro Bank, has announced the appointment of Jamie Sim as a Commercial Banking Director within the Commercial Real Estate team. Reporting directly to Gabrielle Berring, Director of Commercial Real Estate, who joined the bank earlier this year, Jamie will be responsible for managing new and existing customers portfolios within the real estate sector. Sim has…
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