Financial services broker, Midlands Asset Finance (MAF), has appointed four directors in the creation of a national vendor finance division.

Heading the division up will be the newly appointed director and head of vendor Finance UK, Stewart Good, who previously led the vendor division at Aldermore. His team will consist of Steve Shuttleworth, James Pigrem and David Cowe.

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Cowe joined MAF earlier this year after spending 14 years at Econocom Technology Finance, whilst Pigrem and Shuttleworth have also joined MAF from Aldermore’s vendor finance team, after previously building successful careers at Santander and GE Capital.

The appointments are the latest in a continued recruitment drive for MAF, more than doubling its headcount to 36 in three years.

Speaking on the creation of the new division, MAF director and head of business development, Dave Chapman, said: “I am delighted to welcome Stewart and his new team to MAF to launch our national vendor finance division.

“This ties in with our future growth strategy to open offices in the north and south as we grow our direct team on a national basis, too. The team brings a wealth of experience in the vendor arena, and we will be going to market with a unique offering to meet the needs of the vendors and their customers.”

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Good said: “I am delighted to have joined MAF to head up their national vendor finance division. We have created a team with many years’ industry experience who will be able to deliver a compelling and competitive offering for our vendor partners.

“Under the MAF model, the vendor team has access to multiple funding products and capabilities, which will then enable us to provide a suitable and flexible finance solution to our vendor partners and their customers.”

In June, Midlands Asset Finance hired a relationship manager for the Black Country. Shannon Thompson will support SME and corporate businesses across the country with any financial needs, including asset finance, invoice finance, and property finance.