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April 10, 2019

Wyelands Bank adds to capital solutions team

SME finance provider Wyelands Bank has appointed a relationship manager in its working capital solutions team.

By Christopher Marchant

SME finance provider Wyelands Bank has appointed a relationship manager in its working capital solutions team.

Kevin Sullivan will focus on growing Wyelands Bank’s asset-based lending offering. His appointment is part of the bank’s strategy to help manufacturing and industrial businesses to trade and grow through the right combination of simple financial solutions.

Sullivan joins from Nucleus Commercial Finance where he was a client director and focused on building the asset-based lending offer. He previously held senior portfolio and risk management roles at Lloyds Bank Commercial Finance and RBS.

Ian Flaxman, managing director, working capital solutions, said: “At Wyelands Bank, our starting point is always to get to know the business we are trying to help and the specific challenges it might face.

“With a strong track record in managing a portfolio of asset-based lending clients, Kevin’s appointment demonstrates our commitment to our customers. Kevin will help us continue to deliver innovative and high-quality financial solutions to small and medium businesses across the manufacturing supply chain.”

Sullivan is responsible for managing a portfolio of clients and developing the team’s risk and relationship management capabilities. He is based in London.

Sullivan said: “Wyelands Bank’s approach is innovative yet simple. It gives its customers direct access to decision makers to help businesses unlock growth. I’m looking forward to working with the team to continue this approach, develop our capabilities and help businesses access finance.”

This week owner of Wyelands Bank Sanjeev Gupta completed the acquisition of Diamond Bank UK, now to be known as the Commonwealth Trade Bank.

Diamond Bank UK is the British subsidiary of Diamond Bank of Nigeria. The stated intentions of what is now known as the Commonwealth Trade Bank is “to provide a range of bespoke financial solutions with a vision to reinvigorate Britain’s global trading heritage and expertise with countries like Australia and India.”

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