Aldermore takes on ING Manager

A British Bank challenger has captured a former ING manager to work within its agricultural finance sector.

Aldemore Bank has appointed Rob Brudenell from ING Group as its Business Development Manager with responsibility for the agricultural side of the business.

In November last year Dutch bank ING shuttered Mr Brudenell’s Surrey-based ING Lease UK, which had been lending over £1 billion a year through leasing contracts to farmers, accounting for an estimated 25-40 per cent of loans.

Mr Brudenell, with 30 years of experience in the agricultural finance sector, was previously an Agricultural Broker Manager at ING Lease UK until the Group took the decision to discontinue asset finance activities in the UK.

The former manager, from Essex, will now be responsible for liaising with specialist finance brokers throughout the country to provide agricultural equipment finance.

On the subject of joining Aldemore, Rob Brudenell said: “I’m delighted to have joined Aldermore, which is really making its presence felt in the asset finance market.

“Aldermore Asset Finance has ambitious targets for the year ahead and I’m looking forward to helping it become a leading player in the agricultural finance market.”

Mr Brudenell, who formerly worked for Barclays Highland Finance, has experience as both an agricultural broker and was responsible with launching New Holland Finance in Italy.

He joins a bank that has lent out more than £2 billion worth of commercial, residential and asset based finance since opening back in 2009.

Aldemore currently has over 12,000 SME customers, increasing its customers in the past year alone by approximately 52 per cent, in a time where lending has been dramatically reduced.

Paul Rooney, Head of Agriculture & Construction, said: “I’m delighted to welcome Rob to the team and wish him every success for the future.

“He is well known in the agricultural market and I have no doubt that his considerable experience will stand him in good stead.”