Lloyds has boosted its asset finance team by hiring a number of senior leaders as demand for asset-based financing grows across UK SMEs.

Tim Biddle has been appointed as head of asset finance sales. He previously served as commercial director for SME lending at Paragon Bank and will now shape and execute Lloyds’ sales strategy in the sector across the UK.

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In addition, Oliver Batley has joined as area director for the Midlands and North West. With more than 14 years of experience in asset finance, Batley will lead the team supporting SMEs, and act as the manufacturing lead for asset finance in the region.

Furthermore, Nina Babou has also joined as area director for London and North East England. She will oversee asset finance in these regions with responsibility for driving growth.

The appointments will support the bank’s business development capabilities, spearheading growth and provide additional business support for customers.

Also, the bank has invested in its Asset Finance Sales team, growing the number of client-facing roles by 10%, including the addition of a specific business development team to accelerate the acquisition of new clients.

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Tim Biddle, head of asset finance sales at Lloyds, commented: “Asset finance has fast become an increasingly important market, offering businesses more options to fund their growth. I’m thrilled to welcome Oliver and Nina and other new members of our Sales team – their extensive experience and fresh perspectives will be invaluable as we continue to enhance our offering. These hires reflect our commitment to supporting the growth and success of trading businesses across the UK, ensuring they have the financial tools needed to thrive in a competitive market.”