Nick Smith has been promoted to group managing director as part of the succession programme at Reward Finance Group.

He takes over the role from founding directors, David Jones and Tom Flannery, both of whom will continue as directors for at least the next two years.

Before joining Reward in June 2016, Smith held key roles at Ultimate Finance Group (as group sales director) and at Aldermore Invoice Finance (as regional managing director).

Smith joined as group sales and marketing director and acquired a significant minority stake in the business in March 2017.

Towards the end of 2018, Smith added to his responsibilities by becoming managing director of the North West, with the task of growing Reward’s presence across the Pennines through its new Manchester office.

Nick Smith said: “We put a succession plan in place a few years ago that has now come to fruition.”

Dave Jones said: “Nick was hand-picked by me as someone who could drive Reward forward into this decade. His commitment, and the start of the succession planning, was sealed when he bought into the business seven months later.

“Two years ago, Nick took over our fledgeling North West office and has since built a fantastic sales and operational team which is making a massive contribution to the success of Reward.

“Although these are trying times for all of us, I believe with Nick, and the high calibre team he has assembled, the business could not be in safer hands.”

Reward Finance Group is part of Mettle Investments Ltd, a holding company of a group of specialised lending businesses operating in South Africa and the UK.