Kevin Davidson, managing director of Premier Asset Finance, has announced his retirement from the business he co-founded.

Davidson will step down on 31 March 2022, exactly 40 years to the day since he started his first job in asset finance when he joined North West Securities. He will be succeeded by Ken McKeating, currently sales director for Paragon Bank’s SME lending division.

Premier Asset Finance was co-founded by Davidson in 2008 after working for over 20 years at the Bank of Scotland. The company currently has more than £1 billion in funding arranged over 15,000 agreements.

In 2016 the firm was bought by FTSE250 specialist bank Paragon.

Paragon acquires Premier Asset Finance

Davidson has a long career in asset finance and has worked in senior roles at the Bank of Scotland and Dash Commercial Finance. He joined Paragon in October 2017.

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Kevin Davidson said: “It has been an amazing journey, from North West Securities in 1983 to Premier Asset Finance 2023, but like most things in life it’s the people that have made the real difference and I would like to take this opportunity to thank all the fantastic colleagues, mentors, managers, industry associates and customers for making my career such a magical and hugely enjoyable experience.”

He continued: “Special mention to my brilliant team at Premier for their unwavering loyalty and undying commitment to making Premier the successful business it is today. You are simply the best and I will miss you all.

Ken McKeating said: “I am delighted to be joining Premier Asset Finance and building on the good work of Kevin and his team. Backed by a wealth of industry knowledge and expertise, the Premier team is ready to deliver funding solutions to businesses and work with them to achieve greater and greater success in 2023. I can’t wait to get started and wish Kevin a long and enjoyable retirement.”