UK lessor Investec Asset Finance has recruited 17 personnel across its departments as the latest stage in a programme of growth.

Four senior appointments among the recent intake have joined from ING Lease after the firm went into run-off in November 2012.

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Lee Rhodes joined Investec’s mid-ticket department to help grow the lessor’s book in that sector after 10 years with ING Lease working on mid- and large-ticket deals.

Rhodes will be joined in the mid-ticket department by Clare Hagon who joins as a credit analyst. Hagon also comes from ING Lease where she worked for seven years in various roles across departments including, financial products, small ticket and block discounting.

Investec bolstered its own block discounting team with the appointments of Osian Rees, who will head the department, and Eddie Pharo, both of whom move from ING Lease. Investec is planning to expand its block discounting offering to selected regional brokers with their own portfolios as another means of providing funding to UK SMEs, the bank said.

The other appointments are spread across Investec’s sales, pay-out, credit, broker support and new business departments and both the London and Reading offices.

Investec told Leasing Life it experienced steady growth in new business from its broker network throughout 2012 in line with its strategy to increase market share and was seeking to expand its team as a result. The news ING Lease was ending its business in the UK both accelerated that growth and presented an opportunity to recruit experienced staff.

Mike Francis, head of Investec Asset Finance, said: "This is a very exciting time for Investec Asset Finance as we look to grow market share while offering best quality service to existing clients. This team expansion will enable us to do this with confidence and we are delighted to welcome these new, talented and experienced individuals.