Investec Asset Finance and Quantum Funding are to combine their broker manager teams.
Each broker manager will represent both Investec and Quantum and be aligned to a specific region within the UK. Quantum provides a broad range of asset finance to UK SMEs and corporates and is a wholly-owned subsidiary of Investec.
As a result of the change, broker managers will manage smaller portfolios. This intended to allow more time for their brokers and, with their regional expertise, a higher quality and more personalised service, ultimately generating further growth opportunities.
Leadership of both brands will remain independent and Stuart Hughes and Paul Cunningham will retain their roles as head of Investec Asset Finance Sales and head of Quantum Funding, respectively.
As part of the reorganisation, Investec has appointed David Brownbill as regional broker manager for the Midlands area. He has over 25 years of experience working with broker introductions in the asset finance market, most recently at Paragon and Wesleyan. He will join the business from the week commencing August 12.
Hughes said: “At Investec we’re constantly considering how we can make it easier for brokers to do business with us and we believe that this new approach will serve to retain specialism at senior leadership level whilst enabling relationship managers to spend more quality time with brokers.”
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Cunningham said: “We have long-standing relationships with brokers across the country and this initiative will ensure consistency as our brokers seek guidance and expertise across our entire risk and credit curve.”
Last year Investec Asset Finance reached £250m (€278m) in materials handling business, four and a half years after the dedicated division launched. This was an almost twofold increase on the March 2017 loanbook size of £130m. The materials handling team has been led since launch by Andrew Woodward, formerly of Aldermore and BNP Paribas.