Shawbrook sets up wholesale lending division
Shawbrook is setting up a wholesale lending unit within its asset finance division.
The bank currently provides block finance facilities to SMEs but has plans to offer asset-backed revolving credit facilities to finance and debt purchase companies, and specialist lenders.
Three appointments have been made so far: Kieran McSweeney, Marc Sefton and Michael Katramados, all of whom join from Royal Bank of Scotland.
Commenting on the opportunities ahead, Mr McSweeney, who is joint director of wholesale lending at Shawbrook, says: “We believe there is a real gap in the wholesale market for a lender with market leading technical expertise combined with a very strong service proposition.
“In particular, we know that speed of execution and lack of flexibility in terms is an issue for many finance companies looking for credit.”