Ultimate Finance has announced that Richard Waldman has been promoted to group sales director with immediate effect.

Waldman joined the business a year ago specifically to set up Utlimate’s Scotland operation. In the latter part of 2015 his role was widened to northern sales director looking after the new business teams in Glasgow, Manchester and Leeds.

Waldman has a strong pedigree in the invoice finance and asset-based lending markets, having worked in commercial finance for more than 20 years for both bank-owned and independent lenders.

He started his career with Royal Bank of Scotland and, ten years later, left to set up Cattles Invoice Finance in Scotland. He was pivotal in taking it from a start-up business to over 120 clients, as well as overseeing the transition of the business into challenger bank Aldermore.

Waldman takes over the role from Nick Smith who has left to join a non-competing lender based closer to home in his native Yorkshire.

Waldman said,"I am delighted to have been given the opportunity to lead and continue to grow the team at Ultimate. We have an impressive track record and I am keen to build further on the good work achieved by the team to ensure we remain the provider of choice for SMEs.

"We’ve a real desire to work closely with our introducers to ensure that we can provide a high level of support to our clients."
Nick Smith added, "Ultimate Finance is in great shape, it has a super product offering, excellent UK-wide distribution channels and some innovative new products in the pipeline that will see it continue to be a leading player in the sector.

"Richard has done a fantastic job since joining the group and I can think of no better candidate to take the business forward. I wish him every success."