Larkin is new MD at Lloyds Commercial Finance

Ian Larkin has been appointed managing director of Lloyds TSB Commercial Finance (LCF), the invoice and equipment finance arm of Lloyds Banking Group (LBG).

Ian Larkin has been appointed managing
director of Lloyds TSB Commercial Finance (LCF), the invoice and
equipment finance arm of Lloyds Banking Group (LBG).

Larkin will replace Simon Featherstone, who
will step down as of 1 August 2011.

Dubliner Larkin joins from Lloyds TSB’s
consumer banking and lending arm where he was previously managing director. He has also held directorial
roles with Halifax Bank of Scotland (HBOS) and Virgin Money
Group.

At LCF, Larkin will be in charge of the
provision of invoice finance, hire purchase and leasing to
businesses across the UK.

Larkin said the division’s products have grown
in popularity, with invoice finance in particular continuing to
outperform other products in the business funding market.

He said: “The fact that Lloyds TSB Commercial
Finance’s products and services continue to go from strength to
strength was one of the key reasons I wanted to join the team, and
I’m looking forward to helping further drive expansion in the
sector.

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“There is a strong momentum in the business
and we have many key initiatives and developments in the
pipeline.”

John Malty, managing director of commercial
banking at LBG and chairman of LCF, said business funding is a top
priority for the bank and that asset based finance is a key part of
that proposition.

He added Larkin’s credentials and broad
experience are an excellent fit for the role of managing director
at LCF, as the business continues to drive growth in the asset
finance market.

grant.collinson@vrlfinancialnews.com