Charles Garfit has been appointed as the new head of Santander Asset Finance (SAF), following Mike Oxby’s promotion to the newly created role of head of Santander Asset Based Finance (SABF).

The Spanish Bank has decided to amalgamate three of its businesses; asset finance, invoice finance and supplier and bill payments, into one overarching entity, as part of a "drive towards getting closer to businesses," Garfit told Leasing Life.

Oxby will be in control of SABF, which it is hoped will increase the amount of funding Santander is able to provide "across businesses" in what Garfit described as increasingly "joined up offerings".

He said SABF is "striving" for UK growth, and has some "pretty stretching" targets for growth, in terms of assets and personnel. The company is "excited about being in a growth mode," although Garfit acknowledged "some of our competitors and former colleagues are contracting still."

Garfit, a former Leasing Life contributor, joined Santander in 2010 as director of asset management. Prior to that he was managing director of SHM Smith Hodgkinson, having previously held roles at GoIndustry DoveBid, Henry Butcher and as head of asset disposal at Lombard.

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