White Oak UK has announced managing director Peter Alderson’s retirement from the company, and the appointment of Carl D’Ammassa as the firm’s chief executive officer.
Peter joined White Oak UK as managing director in 2012. Under his leadership, the firm lent over £1bn on its own book and delivered more than £2bn of funding to UK SMEs. It has grown considerably over that period from a single office, employing 120 people, to employing 240 people over 5 locations.
“I want to express my gratitude for the opportunity to work with such a talented team, whose commitment to delivering the best results to businesses and entrepreneurs across the UK has been integral to the firm’s success and my own experience over the past seven years. It has been a privilege to lead the company through a strong growth period and I l know that the firm will continue to succeed under Carl's leadership,” said Peter. “Carl’s strong track record in leading transformative sales, operational and process improvements across business lending will be invaluable as the firm continues delivering on its mission of helping businesses across the UK reach their goals.”
Carl joins White Oak UK from Aldermore Bank, where he most recently served as group managing director of the bank’s business finance division. There, he was responsible for the firm’s business lending activity including asset and invoice finance as well as commercial real estate. Prior to joining Aldermore in 2013, Carl served as managing director of Hitachi Capital Business Finance, and previously held various financial, operational and general management positions at GE Capital, including the post of CEO of the vehicle rental, plant hire and key leasing businesses.
“I am thrilled to join White Oak UK during such a dynamic time for the firm and across the industry,” said Carl. As White Oak UK continues to expand across geographies, industries and sectors, I’m excited to work with the team to build on this momentum and help businesses access the finance they need.”
The announcement follows a series of growth initiatives across White Oak UK. Earlier this week, the firm announced a strategic partnership with Spotcap to improve access to finance for businesses across the UK, and in January of this year, White Oak UK announced the opening of its new Glasgow office.
White Oak UK’s vision is to significantly develop lending levels to UK smaller businesses, who still struggle when trying to access finance for their businesses. This, coupled with a new focus on expanding operations to provide fast and convenient business finance to larger, middle-market companies across the UK draws on the wider group’s proven experience in mid-market solutions, providing White Oak UK with the means to introduce a number of new objectives into its overall offering.