Hitachi Capital has appointed two business development managers from Aldermore to join its vendor finance team.

Ian Smith has over 30 years’ experience in banking and finance, and joined from Aldermore, where he served as business development manager from November 2015. He also served as area sales manager at CNH Industrial.

Russ Nicholls also joined Hitachi Capital’s vendor finance team as a business development manager. He has over 12 years’ experience in finance, and has worked for GE, CNH Industrial, and most recently worked at Aldermore as a business development manager.

Andy Taylor, head of broker sales at Hitachi Capital Business Finance, said: “Hitachi Capital Business Finance are committed to further developing out vendor offering and the number of partners that we have – which includes expanding our expertise in our team as well.”

Taylor said Smith and Nicholls will be tasked with developing manufacturer and dealer stocking facilities, and introducing their contacts to Hitachi Capital’s portfolio of vendors.

Taylor claimed that Smith and Nicholls had come to Hitachi Capital and asked to work for them. He added: “Both Ian and Russ approached Hitachi Capital Business Finance wanting to join a team with an innovative market reputation.”

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The business development managers will report to Sean Jones, head of vendor. The appointments were effective 5 June.