Reporting to Invoice Finance managing director Damon Walford, Nick Smith takes on the role of regional managing director for the Northern Region, Ross McFarlane takes on the role of regional managing director for the South and Midlands and John Dodsworth becomes strategic development director.
Damon Walford said: “Nick, Ross and John have all held senior positions within Aldermore Invoice Finance and therefore have considerable experience of both the business and the market in which it operates.
“The restructuring, announced prior to Christmas, has enabled us to streamline the business in preparation for the implementation of ambitious growth plans during 2013 and beyond. We’re in good shape to meet the challenges of a demanding market and I have full confidence that under the expert guidance of Nick, Ross and John, Aldermore Invoice Finance will continue to go from strength-to-strength.”
During 2012 Aldermore Invoice Finance grew its client base by over 10% and increased lending to over £200m, which represents a growth rate of 27%. This compares to data collated by the Asset Based Finance Association, which shows that client advances grew by just 5% during the first three quarters of 2012.
Aldermore has lent more than £2 billion (a combination of commercial mortgages, residential mortgages, asset finance and invoice finance) since first opening its doors for business in the summer of 2009. Aldermore has approximately 12,000 SME customers and has increased its business client base by 52% during the past year, at a time when many other banks have been scaling back their SME lending activities.