United Trust Bank (UTB) has appointed Jon Mote as the head of specialist business development, asset finance, in a bid to strengthen its play for the mid-ticket transaction sector.
Mote is an asset finance professional who, until recently, ran Metro Bank’s specialist asset finance business with oversight of both broker relationship development and credit risk teams. He was previously with Syscap.
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Mote took up the newly created role, head of specialist business development, asset finance, on 8 April with a focus on increasing the originations of £500k to £2m transactions and developing UTB’s specialist high-value motor finance proposition for HNW customers.
He reports directly to Nathan Mollett – who was previously Metro Bank’s director of asset finance – and will work closely with the sales team supporting the BDMs in securing higher value transactions as well as developing direct relationships with brokers originating in that space.
UTB says it has ambitious plans to grow its asset finance business and sees increasing its mid-ticket transaction volumes as a key part of the strategy for 2021. Earlier this year UTB appointed Oliver Hobday as an additional underwriter focusing on higher-value proposals.
Jon Mote said: “UTB are aiming to grow their asset finance business significantly over the next few years and I’m excited to be part of the team which will deliver that vision.
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By GlobalData“The mid-ticket sector is competitive but, in my experience, there’s an opportunity for UTB to go in with a strong service offering providing direct access to credit, quick decisions and efficient, reliable completions.
“As well as having strong leadership and ambitious plans, UTB places a huge amount of importance on providing excellent broker and customer service and encouraging a collaborative and supportive workplace culture. That combined with investment in talented people and innovative technology makes them a business I’m very much looking forward to being part of.”
Nathan Mollett, head of asset finance at United Trust Bank, said: “We see larger transactions as a key growth area for UTB’s asset finance business over the next few years and Jon Mote’s experience in securing and structuring mid-ticket deals will be invaluable as we build our presence and develop our offering in that space.
“In addition, his knowledge and contacts in high-end vehicle finance will enable us to further develop our existing proposition for prestige, high performance and classic cars and win even more business.
“I know Jon very well and he is an excellent addition to UTB’s already strong asset finance team. Having him on board will help us to deliver against some ambitious growth targets and continue to provide an excellent service to our existing and new broker partners.”
