Mr Catton has more than 25 years of experience in financial services, including seven years as CEO of RBS’s UK corporate bank.

He has also served as a non-executive director at Direct Line Group PLC and managing director at Barclays.

He will succeed the current group CEO and co-founder Mark Crook, who has been instrumental in driving the business.

Mr Crook will continue in his role on the board of directors and will be responsible for exploring new growth opportunites for the group.

In 2017, HHF provided £104m of asset-based finance to over 8,000 businesses, and lent a further £100m through invoice discounting facilities.

The group’s sales origination increased by 25% and almost half of new lending agreements were funded on HHF’s own balance sheet.

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Commenting on its recent success, Mr Crook said: “The growth across both our asset-based lending and invoice discounting divisions reflects our ability to identify and convert opportunities in the finance sector.

“Last year saw accelerated lending on our own balance sheet and we plan to feed our appetite for own-book lending as we look ahead.

“The last few years have been an incredible journey for HHF, as we transitioned from a finance brokerage to a fully fledged lender.

“This latest announcement represents an exciting new chapter, both for myself and for the group, as we plan for the next phase of growth and investment.”

Mr Catton added: “Henry Howard Finance is already a success story.

“We’re supporting UK companies of all shapes and sizes and I am incredibly excited about the opportunities that lie ahead.

“The SME finance market has been through a tumultuous few years, but with the backing of investors like Cabot Square Capital and the British Business Bank, HHF has emerged as a serious player.’’