Mike Randall has left Close Brothers Asset Finance after a senior management restructuring, Leasing Life understands.
Neil Davies, chief executive of Close Brothers Leasing, will take on responsibility for both Close Brothers Asset Finance and Close Brothers Leasing.
A spokesman for Close Brothers Asset Finance said the bank would continue as separate branded businesses externally, but that at a senior management level, the two divisions would be combined.
Close Brothers Invoice Finance division will remain under the leadership of its chief executive David Thompson.
Randall had been with Close Brothers for over 22 years, becoming Asset Finance managing director in 2005 for nearly seven years. He then became chief executive of the bank’s Asset Finance division in 2012.
Randall piloted the business successfully through the UK government’s Regional Growth Fund scheme, seeding £52.2m (41.7m) into UK SME funding, creating and safeguarding around 6,500 jobs in the UK economy, according to Close Brother’s figures. Under Randall’s stewardship the Asset Finance division grew its leasing book to £1.4bn, while he also founded the Close Brothers Asset Finance Sales Academy.
Randall oversaw the acquisition of Hertfordshire-based UK broker Finance for Industry in February of this year, which was integrated into Close Brothers Asset Finance industrial equipment division, under managing director Steve Gee.
Last December Mike Randall won the 2015 Leasing Life Industry Ambassador award, for enterprise and efforts in raising the profile of the asset finance market in Europe.
Randall had also been a leading proponent of the minimum standards for brokers movement in the UK, in conjunction with the Finance and Leasing Association and the National Association of Commercial Finance Brokers, which Leasing Life covered in March.