Lee is a qualified chartered accountant and joins from Santander Corporate Bank, where he was director of invoice finance and asset-based lending. He has 10 years of experience in finance, having held previous positions at Royal Bank of Scotland Invoice Finance, UNW and PwC.
In his new role, Lee will be based in Newcastle working with SMEs in the North East and Cumbria that are looking to improve their working capital.
Secure Trust Bank, the AIM-listed challenger bank, launched its Commercial Finance arm in September last year to provide SMEs with a full range of asset-based lending products and is continuing its recruitment drive across the UK.
Sean Powell, regional director for the North at Secure Trust Bank Commercial Finance, said: “We’re really pleased to welcome Lee to the team, as we look to help more SMEs in the UK achieve their growth objectives.
“Since our launch last September, we have completed a number of successful deals and we’re looking forward to what’s ahead as we continue to grow in 2015.”
The business operates nationwide, with teams in Birmingham, Leeds, Manchester, Liverpool, Bristol, London, Cardiff and the South Coast in addition to Newcastle.
Secure Trust Bank is a longstanding established UK bank. Its core business is to provide banking services including a range of lending solutions and saving products. It also provides fee-based current accounts to UK customers who may not be adequately served by other banks.
The company, which was incorporated in 1954, operates from its head office in Solihull, West Midlands, and has been a subsidiary of Arbuthnot Latham & Co Ltd since 1976 and a subsidiary of Arbuthnot Banking Group plc since 1985. Arbuthnot Banking Group plc owns a 51.9% shareholding in the company.
The company successfully listed on AIM in November 2011. In June 2012 the company acquired Everyday Loans Holdings Ltd and its subsidiaries. Everyday Loans is a provider of unsecured loans operating through a national network of 31 branches where loans are advanced, serviced and collected.
In September 2012 the company became the first bank in the UK to be awarded the Customer Service Excellence Award, and the following month was awarded a four-star Fairbanking Mark for its current account.
In December 2012 the company placed 1,481,482 shares on AIM, raising gross proceeds of £20m. It acquired the V12 Finance Group and the trade and assets of the Debt Managers Group in January 2013. In June 2014, the company placed 2,083,333 new ordinary shares with institutional investors which raised gross proceeds of £50m.
The company’s diversified lending portfolio focuses on unsecured personal loans, motor finance, retail point-of-sale finance and more recently SME lending activities. Its lending is entirely funded by customer deposits, with no exposure to wholesale funding.