UK challenger bank Cambridge & Counties has appointed Don Smith as business development manager and Claire Goldsworthy as business development officer of its asset finance division.

Smith has more than 30 years’ experience in the asset finance industry, having worked with brokers for Bank of Scotland, RBS and Lombard. He was most recently at Metro Bank.

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Prior to joining Cambridge & Counties, Goldsworthy was sales administrator at Bibby Financial Services.

Following the two appointments Cambridge & Counties’ asset finance division – launched 2015- has grown its team to ten employees.

Heading up the team is Mike Oxby, director of asset finance, who joined the company last October.

Oxby was managing director of Santander’s UK Asset Based Finance Business from 2009 and 2014, building a new business providing £1.6 billion of financing to SMEs. Previously with DLL (Rabobank) and Hewlett Packard, he also served as executive director of the Asset Based Finance Association (ABFA) until 2013.

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Oxby said: "Cambridge & Counties has achieved much since launching in 2012 to serve the SME market. By taking a personal and flexible approach to borrowing by understanding the business and people behind the application it has grown loan commitments exceeding £500 million."

Recent deals

Recent asset finance deals supported by Cambridge & Counties include:

– A funding line exceeding £500,000 to acquire used plant and machinery critical to a plant hire company’s contract commitments.

– Funding for a family run haulage firm’s new tipper truck structured over five years, plus funding for the Vat to defer the liability until month three

– New CNC milling machines to boost productivity at a young engineering firm experiencing significant growth supplying parts to Midlands auto companies.