A specialist short term lender has made two experienced additions to head up its asset finance lending arm, prompting a move to rapidly expand its market share of the sector.

United Trust Bank (UTB) has welcomed Ian Short to take over as Head of Sales, and Richard Bristow as Credit Manager within its Asset Finance team.

Ian, who was formerly Managing Director at Anglo Irish Asset Finance, has a career in finance which spans 30 years after starting at British Credit Trust in 1984.

After being fast-tracked for a management role, Ian spent 15 years at Anglo Irish Asset Finance as MD before leaving in 2006 to pursue other ambitions, providing consultancy services to his industry connections for the past few years.

Ian’s main role will be to co-ordinate sales activities with BDMs, to increase awareness of the Bank’s brand among brokers and expand UTB’s network of partnerships. He will work closely with the lender’s senior management team to develop and implement strategies that achieve UTB’s aim of continued expansion in the Asset Lending sector.

Commenting on his appointment, Ian said: “I had received approaches periodically to return to the industry but it was the offer from United Trust Bank which really appealed to me.

“I was aware of UTB's growing reputation as a flexible and pragmatic lender with a strong focus on customer service. I recognised a great opportunity to join a relatively small but motivated team with ambitious plans."

Richard joins as Credit Manager (Asset Finance) following two years at Hitachi Capital Business Finance as the firm’s Head of Credit Function.

His career started in 1975, since then - he has worked with several high street institutions including HSBC, Bank of Scotland and Lloyds TSB - across a range of business finance roles, taking on responsibility for lending since 1984.

Richard’s role as Credit Manager will see him working with the head of UTB’s asset finance division, Martin Nixon, and Underwriting Manager, Peter Price, to assess a growing number of asset finance proposals. His role will also cross over to help colleagues in the bank’s bridging and development finance teams.

On joining UTB, Richard said: “Having worked for larger concerns involved in high volume processing, where the needs of the customer are not paramount, I’m looking forward to being part of a team of people providing a bespoke service to customers.”

Martin Nixon, UTB’s Head of Asset Finance, said: “I’m absolutely delighted to welcome Ian and Richard to the UTB team. They are both highly respected in their fields and their vast experience will be of great benefit not only to the Asset Finance team but to the Bank as a whole.

“Their appointments, hot on the heels of John Cullingford, Peter Price and Sarah Bowyer who all joined us in March, mean that we have nearly doubled the size of the Asset Finance team this year. Our rapid expansion confirms our intention to significantly grow the Bank’s asset finance book and increase our market share whilst maintaining a high level of service to brokers.”

“The lack of credit being made available to UK SMEs continues to present opportunities for flexible and pragmatic niche lenders such as United Trust Bank to step in and provide an essential service. We are being approached by brokers with growing numbers of proposals to provide asset-based lending to a diverse range of business and for equally varied purposes and I expect UTB to have yet another very busy year.”