Simply has added two board members to lead its risk and legal functions.

Richard Chadwick joins Simply as chief risk officer after seven years at Close Brothers, most recently as commercial head of underwriting.  Prior to that, Chadwick spent eight years at PwC where he qualified as a chartered accountant. He will now run the credit, collections and risk functions at Simply.

Roumena Goscomb is promoted to the board as general counsel, after 16 months at Simply, continuing to oversee all legal and HR matters. She previously worked as legal counsel at a number of institutions, after starting out and spending the first ten years of her career at Slaughter and May.

The two individuals will play an important role in helping maintain the continued success of Simply, said the business.

Mike Randall, chief executive officer of Simply, said: “We are delighted to welcome Richard and Roumena to the Simply board.  The experience they bring comes at a key period in our history.  Their expertise and guidance will be invaluable as we expand organically and work hard to ensure that small and medium-sized businesses across the UK get the funding they need to reach their potential and prosper in the future.”

In March this year Simply rebranded itself to reflect a wider product offering beyond asset finance.

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SME lender Simply hired four employees in Northern Ireland and has moved the whole team into a new office in Belfast in May.

Later in May it created a team for Scotland. James Waterson was made regional sales manager; Ross Pickburn was hired as regional sales manager; William Devine as broker development manager.

Most recentely Simply has received a third facility from the British Business Bank (BBB) which will provide an additional £60m of lending.

The third tranche from the BBB brings the total facility for Simply to £180m – Simply last received its second tranche of money in October 2018.

London-based Simply was established in April 2017, led by Close Brothers veteran Mike Randall and backed by private equity firm Cabot Square Capital.