launched a new sales arm in a move that radically alters its
business plan.
The new business, Henry Howard Finance Direct, will target
end-user customers that Henry Howard originally came to via
brokers. The business plan is for the new division to write £5
million (€6.24 million) by year-end, said Mark Crook, who heads
Henry Howard Finance alongside Howard Ross.
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Traditionally, the Wales-based finance provider has used
introducers to write new business, so the new business model
represents a brand new approach to driving up its portfolio
size.
With around 300 deals per month and an average ticket size worth
£12,500, Henry Howard Finance has focused on supporting its
resellers rather than tapping into its existing end-user customer
base. The company has recently hired an ex-Société Générale sales
specialist, who will head the new division.
Earlier this year, Henry Howard Finance relocated its offices to
a new complex in Newport, Wales As well as specialising in vendor
programmes, the company provides finance for large companies such
as Group 4 Securicor, Micros, and Costcutter.
Henry Howard Finance has been nominated in the Wales Fast Growth
50 for the past five years and was also nominated in The Times’
Fast Growth 100 in 2007.
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