Ed Rimmer, the interim chief executive of Time Finance has been confirmed as the permanent chief executive with immediate effect. Having previously held the position of CEO until April 2020, Ed was reappointed as interim CEO three months ago.
The company said Rimmer “brings with him a wealth of experience having built a highly credible career over 25 years and boasts a strong commercial, financial and operational track record in financial services.
“He initially joined the Group in 2017 as managing director of their newly established commercial finance division. Before that he was UK CEO of Bibby Financial Services, rapidly building the business and doubling its profits to become the largest independent operator in the invoice finance market,” the company said in a press release.
Over the last three months, he has reacquainted himself with the business and has outlined a strategy for the coming years, the company added.
Ed Rimmer (pictured) said: “Time Finance is a strong business operating in a sector that has played a critical role helping small businesses across the UK through the disruption of Covid-19.
“Our industry holds a unique opportunity to inspire confidence and growth in the UK SME market and to support businesses who are looking to recover and grow in post covid times.
“I am confident that Time Finance is in a great position to lead the sector in doing so. We have exciting plans to further develop our business as a multi-product independent SME funder helping businesses to recover and grow and I look forward to leading the business through the next stage of its journey.”
Time Finance specialise in the provision or arrangement of funding to UK businesses seeking to access the finance they need to realise their growth plans, drawing on asset finance, invoice finance, loans and vehicle finance.
John Newman, chairman of Time Finance, said: “Ed is a well-respected and proven chief executive with an exceptional record and was a natural choice for the Group.
“Not only does he bring an enormous depth of experience of the wider financial services market from his time with Bibby, but he also has an in-depth understanding and grasp of the Group from his time as its COO. We are excited about the vision and leadership that he will bring to the business and for the future of the Group”.