First Independent Finance (FIF), the multirange asset finance
broker, placed £83m new business in 2007, primarily for the small-
to medium-sized enterprise sector, according to latest figures.
Co-founding director, Allan Ross now plans for the company to
exceed new business levels of £100m this financial year.
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The company, which is based in Stewarton, Glasgow, and has 32
outlets across the UK, is on a recruitment drive, and Peter
Coleman, who until recently was CEO of business finance at Carlyle
Business Finance, has been invited to join FIF as a consultant.
Carlyle recently closed its doors to new asset finance
business.
John Morrison was recently appointed as a director at FIF, which
brokes a wide range of equipment deals, after a leasing career at
Barclays and De Lage Landen. Morrison is tasked with developing the
company’s strategy and its national and vendor accounts.
Ross, who prior to setting-up FIF had been regional manager for
Highland Leasing in Scotland and Northern Ireland, and codirector,
Robin Duncan, formed FIF in 1999. They are supported by senior
managers, Derek Money and David Ingham.
The company, which is supported by around 20 leading funders,
runs several national manufacturer/vendor partnership schemes. Ross
predicts a considerable amount of growth during 2008 will come from
these schemes, especially in the plant, machinery and agricultural
equipment sectors. FIF is also looking to recruit more skilled,
experienced finance staff. It currently employs 33 sales personnel
and 10 office staff. It is also investing in technology.
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By GlobalDataDuring 2007, FIF acquired a small broking practice. This allowed
the newly acquired broker the resource to develop its customer base
and benefit from the buying power of FIF’s national presence, said
Ross.
In 2006, FIF was the winner of Scottish Enterprise – Best
Performing Business in the 25 to 250 staff category, and was
nominated for the same award in 2007, as well as for the Scottish
Enterprise – Business Growth through People Development
2007.
