Aldermore, a specialist SME lender, has appointed Glenn Souter as a business development manager to its invoice finance team for London and the South East.

Glenn has over 20 years’ experience in the invoice finance industry, most recently working at Close Brothers, the merchant banking group, as deputy head of sales.

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Prior to working at Close Brothers, Glenn held roles at Hitachi Capital, as strategic business development manager for a year, and HSBC, where he worked for over 15 years, initially as regional manager audit and later as senior business development manager.

In his new role, Glenn will strengthen Aldermore’s presence in London and the South East, providing businesses in the region with invoice finance and asset-based lending services.

Chris Meldrum, national business development director at Aldermore, said: “Glenn really knows the ins and outs of the Invoice Finance sector and his appointment will further expand our strong offering to clients.”

Souter said: “Having worked within the invoice finance industry at both high street bank and an independent funder level, I saw Aldermore as a perfect match for my skill set.”

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Aldermore Group is a UK specialist lender and savings bank and was founded in 2009. In March 2018 the bank became part of FirstRand Group, one of South Africa’s largest financial services institutions. FirstRand Group also includes MotoNovo, and in May 2019, the group successfully completed its integration of MotoNovo into Aldermore Group. MotoNovo Finance, based in Cardiff, is a provider of UK auto finance.

As at the end of June 2019, lending to customers stood at £10.6bn (30 June 2018: £9bn), customer deposits totalled £9bn (30 June 2018: £7.8bn) and the CET1 capital ratio was 14.9% (2018: 12.3%). Aldermore Group delivered profit before tax for the 12 months to 30 June 2019 of £129.6m (18 months to June 2018: £231.7m) and a return on equity of 10.9% (30 June 2018: 13.9%).