UK lender Lloyds TSB Commercial Finance has
restructured its sales team in a bid to provide businesses with
greater access to senior funders and target more of the asset-based
finance market.
Each of the bank’s regional teams will have
three sales leaders who will focus businesses by size, targeting
businesses with turnovers of up to £15m, £15m to £100m, and £100m
and above.
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Ian Larkin, managing director for Lloyds TSB
Commercial Finance, said the restructure will enable the bank’s
asset-based finance sector to work more closely with divisions
across the wider banking group to provide funding products which
most closely fit companies’ individual requirements and growth
strategies.
Larkin said: “These strategic changes are a
positive move, allowing us to increase our focus on origination and
support our ambitions to grow the market.
“They also offer many benefits for our valued
customers and introducers.”
The latest statistics from the Asset Based
Finance Association (ABFA) show that total advances to UK
businesses in the first quarter of 2012 grew 4% to £15.4bn.
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By GlobalDataLloyds TSB Commercial Finance, which according
to ABFA has a 23.4% share of the asset-based finance market, said
it hopes increasing the number of leadership roles will enable a
more effective service to the growing market.
