Connecting to LinkedIn...




Lloyds TSB Commercial Finance, one of the UK’s leading asset based finance providers, today announces the appointment of Ian Larkin as Managing Director, to replace the departing Simon Featherstone.

Effective from 1 August 2011, Ian’s appointment comes at a key time as the commercial finance industry continues to evolve to meet the changing funding requirements of companies of all sizes, in a variety of sectors.

Originally from Dublin, Ireland, Ian (43) joins from the Commercial banking division of Lloyds Banking Group, and was previously Managing Director of Lloyds TSB’s consumer banking and lending arms. Prior to this, he was Managing Director of personal lending at HBOS, and has also held the CFO position at Virgin Money Group, following roles at McKinsey and Andersen Consulting.

In his new role at Lloyds TSB Commercial Finance, Ian will head up the business that provides the full range of asset based finance facilities and complementary products. These include invoice finance, asset based lending, hire purchase and leasing, Enterprise Finance Guarantee, debtor insurance, supplier finance and payroll services.

Ian said: “The dynamic nature of invoice finance means it continues to grow in popularity and outperform the business funding market, with figures released last month by our trade body, ABFA stating that total advances grew by 9% year-on-year. The average turnover of clients using this flexible form of funding also outperformed the market, increasing by over 20% from the same time last year.

“The fact that Lloyds TSB Commercial Finance’s products and services continue to go from strength to strength was one of the key reasons I wanted to join the team, and I’m looking forward to helping further drive expansion in the sector. There is a strong momentum in the business and we have many key initiatives and developments in the pipeline, which presents exciting opportunities.”

John Maltby, who heads up Commercial banking for Lloyds Banking Group and is Chairman of Lloyds TSB Commercial Finance added: “Business funding is a top priority for Lloyds Banking Group and asset based finance is and will continue to be a key part of our funding proposition for customers. The appointment of a new MD of the business was therefore a decision we considered carefully, and Ian’s impressive credentials and broad experience are an excellent fit for helping to drive further growth for Lloyds Banking Group in this market.”


Articles similar to

Articles similar to