Haydock Finance has promoted a member of staff internally to the freshly-created role of commercial credit manager.

Haydock has appointed Russell Mason-Hall, who has held the role of senior underwriter with the company for almost 5 years.

This role has been initiated at Haydock following the continued growth of their asset finance portfolio, said the company.

The UK SME asset finance provider said that it had provided in excess of £20m of new asset finance facilities to businesses across the UK  in March 2019.

Haydock said its finance offerings now span multiple asset refinancing as well as finance provision for new and used business assets in a variety of traditional and specialist markets.

The business is in the process of recruiting and developing a team of field-based regional managers to strengthen the existing service provision by its underwriters and office-based broker relationship managers.

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Ian Barr, credit & risk director of Haydock, says, “With our market share of asset-based lending continuing to increase in line with the Company’s strategic objectives, it’s important that we strengthen our team and associated infrastructure. Russell’s credit and industrywide knowledge is a valuable asset. He’s experienced and well-established at Haydock and will add real value in this new role.”

Speaking of his new appointment, Mason-Hall said, “I am delighted to have been given this opportunity with Haydock. Having just celebrated a record month in March 2019, it’s clear that the Company’s ambitions are coming to fruition. It’s a really exciting time for the team.”

Haydock Finance said it has gross receivables in excess of £250m, providing facilities to SME and corporate entities nationwide.

At the end of 2017, funds managed by alternative investment business Apollo Global Management acquired a majority share in Haydock.

The deal saw Haydock’s founder and executive chairman Jon Wilkinson maintain an equity share in the business.

Earlier in 2017, Haydock extended its block discounting facility with Hampshire Trust Bank to £10m (€11.76m).

Haydock Finance was the specialist bank’s first block discounting customer after launching the service in mid-2015.