RCS - Time Finance PLC - Appointments Strengthen Asset Finance Division

Time FinanceAnnouncement

06/09/2022 07:16

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RNS Number : 3995Y  Time Finance PLC  06 September 2022

 

 

RNS REACH

6 September 2022

Time Finance plc

("Time Finance" or the "Company")

Strengthening of the Asset Finance Division throughout 2022

 

Time Finance, the AIM listed specialist finance provider, is pleased to
announce the strengthening of its Asset Finance Division has continued
throughout 2022. This strategic focus has resulted in a series of senior
appointments aimed at driving its growth strategy forward.

 

In January this year, Steve Nichols joined as Director of Asset Finance
(https://timefinance.com/press-releases/an-asset-to-the-team-time-finance-appoint-steve-nichols-as-director-of-asset-finance)
, a new post, to oversee and lead the division. As a well-known industry
figure, Steve has built a highly successful career over the last two decades
having held senior positions at Barclays, Santander, Close Brothers and most
recently, Simply Asset Finance.  He will now play an instrumental role in
guiding the future development of Time Finance's Asset Finance proposition.

 

Since joining, Steve has already overseen the launch of  a new product to
market in May this year. 'Fast Track'
(https://timefinance.com/press-releases/time-finance-to-fast-track-businesses-investment-plans-with-new-product-launch)
is designed to make finance more quickly accessible for UK businesses looking
to invest in their operations, giving brokers and SMEs swift access to soft
assets valued at up to £10,000.

 

Steve's appointment was closely followed by a number of key hires within the
business development team, which saw Time Finance bolster its national
presence and increase the support available to brokers. In July, Paul Seddon
was recruited as Head of Credit
(https://timefinance.com/press-releases/paul-seddon-joins-time-finance-as-head-of-credit)
,  bringing with him over 40 years' experience within the banking sector, to
support the underwriting team, enabling the Company to further expand its
client base and build its portfolio of more complex and challenging deals.
Paul previously held roles at Aldermore, Handelsbanken and RBS.

 

Expanding its service offering to brokers across the UK, the Asset Finance
division has also appointed Laura Mott as new Head of Broker Sales. Laura
joined from Wesleyan where, as a Broker Relationship Manager, she was
instrumental in the launch of its Broker proposition and a key driver in the
success of the Bank's broker division. With over 14 years' industry
experience, she will have responsibility for managing the newly established
national sales team and enhancing delivery of the Company's market-leading
service to both brokers and their SME clients. Adding to the team, two new
Broker Managers, Matt Dean
(https://timefinance.com/press-releases/time-finance-bolster-broker-support-in-the-south-west-with-matthew-dean-appointment)
and Lauren Sharples
(https://timefinance.com/press-releases/time-finance-boost-broker-manager-team-with-lauren-sharples-appointment)
, have also been recruited who bring with them a combined 26 years of
experience.

 

These appointments form a key pillar to support Time Finance's anticipated
growth trajectory, and demonstrate its commitment to delivering its Strategic
Plan, including the expansion of its Asset Finance offering.

 

Commenting, Ed Rimmer, Time Finance CEO, said: "The Asset Finance division of
Time Finance has an exceptional team in place, working very hard to ensure
that we provide tailored solutions that support SME businesses in achieving
their growth ambitions. Individually and collectively they bring a wealth of
knowledge to the business, which enhances the service we provide to both SMEs
and our broker partners.

 

"The Division is key to our ambitious medium-term growth plans and beyond.
With the team now in place we expect to drive growth in origination of
own-book deals which in turn will fuel increased revenue and profits,
enhancing shareholder value and returns."

 

ENDS

 

 

 For further information, please contact:

 Time Finance plc
 Ed Rimmer, Chief Executive Officer        01225 474230
 James Roberts, Chief Financial Officer    01225 474230

 Walbrook PR                               0207 933 8780
 Paul Vann / Nick Rome/Joe Walker          07768 807631
                                           timefinance@walbrookpr.com

 

About Time Finance:

Time Finance's strategy is to focus on providing or arranging the finance UK
SMEs require to fund their businesses and arranging vehicle and
property-backed finance for consumers. The multi-product range for SMEs
includes asset, vehicle, loan and invoice finance facilities. The Group
operates a "hybrid" lending and broking model enabling it to optimize business
levels through market and economic cycles.

 

More information is available on the Company website www.timefinance.com
(http://www.timefinance.com) .

 

 

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