Credit, Collections & Insolvency News
Latest figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew by 5% in 2016 – the sixth consecutive year of growth. New business in December 2016 fell by 13% compared with the same month in 2015. New business in the commercial vehicle finance…
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Aldermore has added two new senior appointments to it’s Asset Finance team. Patrick Jelly joins the Bank as Commercial Director for Asset Finance. Stewart Good joins as Head of Manufacturer and Dealer Services reporting into Jelly. Jelly joins from Pitney Bowes Global Financial Services where he worked for 15 years, latterly as Group Managing Director, Global…
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The Association of Alternative Business Finance (AABF) has launched with the major ambition of championing and promoting the best standards of industry practice. The seven founding members, Capify UK, Catalyst Finance, Credit4, Fleximize, Liberis, The Just Loans Group and YesGrowth have clearly defined four operating principles that members will be required to adhere to: Transparency…
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Equifax has been appointed by new P2P lending platform Flender to support the underwriting of loans for UK SMEs. Equifax will supply real-time consumer and commercial data so that the underwriting process can be automated and optimised. The data insight, provided via the Equifax Business Insights solution, will give a holistic view of SME loan…
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SME working capital solutions specialist Scottish Pacific Business Finance UK has announced a senior appointment. Rob Kelly has been appointed as senior business development manager at Scottish Pacific Business Finance UK, with the key responsibility to head up sales and develop new business through Scottish Pacific’s new central London office. Scottish Pacific head of international…
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Metro Bank has launched a specialist Large Commercial Banking team focussed on supporting trading businesses, and staffed by a team of industry experts. Andy Veares, Director of Large Commercial Banking, will lead the new department and is joined by Paul Robinson and Simon Vallance, previously of Santander UK; and Mark Byrne and Andrew Cremin formally…
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Bank of England Governor, Mark Carney, has warned that a new breed of internet-only lenders are beginning to pose risks to the financial system and without tighter regulation they could trigger the next financial crash. High street banks were being displaced by online lenders that were untested in a recession, when bankruptcies might make their…
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The Finance & Leasing Association (FLA) has called for a more user-friendly regulatory system from the Financial Conduct Authority (FCA), in its response to the regulator’s ‘Future Mission’ consultation. Fiona Hoyle, head of Consumer and Mortgage Finance at the FLA, said: “Consumer credit firms now account for at least 35,000 of the 56,000 regulated by…
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Independent Growth Finance (IGF) has appointed Nick Price as CFO. Before joining IGF, Price held the Interim CFO position at OakNorth, following a six year career at Close Brothers where he was Finance Director for the Commercial Division; previous employment includes KPMG, Goldman Sachs and Deutsche Bank. John Onslow, Chief Executive Officer of IGF said…
Read moreShawbrook Bank has announced the appointment of Neil Jones as Head of Asset Based Lending within its business finance division. Jones said “Shawbrook is well known for its quality of products and services in the asset-based lending community, and has built a solid reputation in structuring and managing new and existing transactions. The range of…
Read moreUltimate Finance Group has announced four new senior appointments across the business, New hires include Steve Noble, who takes the role of Chief Operating Officer (COO). Noble comes with over two decades of experience in the financial services arena, having held senior roles at high street banks and challenger organisations, and is the latest addition to…
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Nearly half (47%) of small and medium-sized business (SME) owners claim the business advice they received in the last year from their mainstream bank had a negative impact on their business operations and one in six (16%) of these suggested their business is now in a worse position as a result. This is according to…
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Platform Black announced it will be changing name to Sancus Finance with immediate effect. The move comes as part of a strategic review of operations by Platform Black’s owners, GLI Finance Limited (GLI). The strategic review, designed to simplify GLI’s structure, included a transfer of its holdings in Platform Black to the newly formed Sancus…
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