Lloyds Bank Commercial Banking has appointed a new head of asset finance in the South East and South West, as demand soars among businesses to invest in capital equipment.
The bank appointed Nathan Morgan as asset finance area director across the two regions, where he’ll lead the business’ asset finance team and bolster support for SMEs and mid-corporate-sized businesses.
Morgan (pictured here) was previously an associate director within the team and has specialised in asset finance for the last 10 years. He has also served in the commercial banking arms at Santander and HSBC over the course of his 18-year career in the sector.
The appointment to Lloyds’ Commercial Banking arm comes as Lloyds Bank records significant growth in demand for asset finance. In the first quarter of 2023, lending of asset finance in the regions was up by 37% compared to the same period in 2022.
His appointment follows the retirement of Matt King, who led the team for four-and-a-half years, rounding out a 36-year career in the sector.
Morgan said: “It’s an exciting time to be in asset finance. Firms want to be fleet of foot and able to invest quickly.
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“Our main priority is being able to move fast to help them identify, purchase and install assets so that they can pursue growth and serve their customer base. We want to implement funding as soon as possible from the first enquiry, and I know that’s helping firms to seize on opportunities as they come around and help grow the region’s economy.
“I see demand for asset finance only increasing. Becoming more sustainable is moving to the top of firms’ agendas, if it isn’t there already, and they’re going to need to invest to achieve that, especially in solutions like solar panels. We’re committed to being by their side as they target these investments and work to grow their business sustainably.”