Aldermore strengthens regional Specialist Finance presence

Justin and Jordan will act as Aldermore’s Specialist Finance contacts for invoice finance across the two regions, helping build professional working relationships with introductory sources.

Justin has over 10 years’ experience managing client relationships, most recently, working as a business development manager at Satago, a fintech offering credit control systems. He previously spent over eight years as a relationship manager at specialist bank Investec, where he focused on infrastructure and manufacturing finance.

Jordan has achieved an internal promotion, having successfully worked for two years as a relationship manager within Aldermore’s invoice finance team. In his previous role, Justin helped give advice to clients on invoice finance deals, with a particular focus in the construction sector.

Andrew Dixon, Specialist Finance director at Aldermore, said: “It’s great to be welcoming both Justin and Jordan into their new roles. Both bring a tremendous amount of experience and a history of success that will further expand our service to clients. They will both play a key role as we continually seek to expand and improve our product propositions to serve an ever greater number of clients with straightforward financial solutions.”

Justin Nel, regional sales manager, Specialist Finance, said: “I’m excited to be joining Aldermore. Having met with the Specialist Finance team, it stood out to me that clients are held at the centre of everything they do. The whole team is making an impact on a market which is too frequently underserved and often not well understood.”

Jordan Bond, regional sales manager, Specialist Finance, said: “It’s great to be starting my new role at Aldermore. The Bank is being proactive in areas where other lenders are not and delivering funding solutions to a broad range of clients across the UK. Our diverse and adaptive approach to commerce, alongside the progressive and dynamic growth year on year is something which appeals to me.”

Accountancy firm celebrates hat-trick of new recruits

A growing accountancy firm has welcomed three new members to its team.

Ulverston based JF Hornby – twice named UK Accountants of the Year – has appointed the trio to bolster its payroll, admin and general accounting departments.

Managing director Paul Hornby said the company is always on the lookout for talent as it continues to build its client base.

He added: “Finding great people is not easy, so when we get the opportunity to recruit motivated individuals with the skills we are looking for, or people with the desire to learn new skills, we act quickly.

“I’m delighted with the appointment of our three newest colleagues; they bring with them different levels of experience along with a number of skills which complement our existing offering.”

JF Hornby will next month mark 25 years of being in business. Since its launch in 1994, it has grown from a two person operation with a handful of clients into a business with more than 2,000 clients and 50 employees.

Andrea Kershaw has just joined the team after spending eight years at the Lakeside Hotel. She offers support to the team as an administrator and at the age of 50 is embarking upon an apprenticeship.

She said: “I am really enjoying my new role; there’s a great variety in what I do and I am finding that I have a great work-life balance. I also never thought I would be doing an apprenticeship at this stage of my career, but am really enjoying it.”

Abi-Gayle Aguirre, 22, studied accounting and finance at Leeds Beckett University. She is an accounts specialist and on a three-year training programme to become a chartered accountant.

Abi-Gayle joined the business having previously worked for another local accountancy firm. She said: “As soon as I made the decision to move back home after university, I knew that Hornbys was the place I wanted to work.

“The company is very well known and I am really enjoying working with the team. My aim is to complete my exams and achieve chartered accountant status.”

For the final member of the trio, Charlotte Turner, feeling valued at work is one of the reasons she enjoys turning up at the office every day: “What you do is really appreciated,” she said.

“Hornby’s is very different as a business to anything I have experienced before. They are investing in my training and development, I work with great people and am getting along with the team very well.”

Charlotte, 21, is a payroll administrator and is studying for her level three Association of Accounting Technicians qualification. A former UVHS student she has also completed a business admin apprenticeship.

Metro Bank appoints brand and marketing director

Metro Bank is pleased to announce that Jessica Myers has joined the Bank in a newly created role as brand and marketing director.

Based in London, Jessica is responsible for developing and driving forward the Metro Bank brand and marketing strategy, alongside its customer communications.

Jessica joins from RBS where she was head of brand management for the past five years, with responsibility for its 10 portfolio brands. Prior to this, she was responsible for brand management and advertising at Commonwealth Bank of Australia in Sydney, and has also worked with American Express.

Alongside Jessica’s appointment, Metro Bank has recently begun working with creative agency Mr President and media agency Goodstuff to start work on evolving the Bank’s brand strategy.

Commenting on Jessica’s appointment, Paul Riseborough, chief commercial Officer at Metro Bank says: “I’m delighted to welcome Jessica to the Metro Bank team. As we approach our ten-year anniversary as a business we have lots to be proud of, not least being rated no.1 for personal customer service and growing to nearly two million customers. Jess will play an important role in helping us develop our brand and marketing strategy, ensuring we continue to bring competition to the market.

Jessica Myers added: “I’m really excited to be joining Metro Bank. I’m impressed with how the Bank has established its personality within the sector, and in my new role, I’m looking forward to helping evolve the brand as Metro Bank continues to win more customers and shake-up the UK banking scene.”

Companies hire potential over experience as skills shortage hits UK

Almost two thirds of employers (58%) hire staff based on potential, rather than experience or qualification, as demand for skills outstrips supply in the UK.

Added to this, 94% state that their potential-based hires have become a valuable part of their team with less than a fifth (17%) of hiring managers expressing concerns about potential-based hires having the capability to ‘learn quickly on the job.’

In fact, 55% of professionals felt that learning and growth opportunities were more important to them than higher salaries.

The findings come from a recent survey from staffing business Walters People – specialists in temporary/contract and junior permanent recruitment – which highlights how potential-based hires will be important in the new economy.

UK Skills Shortage
65% of employers anticipate a skills shortage in 2020, with the most acute skills shortage being felt at the mid-management (57%) and junior/executive (37%) level – typically where Millennials (25 – 35) and Generation Z (18 – 24) are employed.

Phill Westcott, director of Walters People UK, who has over 17 years’ experience in the recruitment industry comments:

“Hiring based on potential is highlighting an opportunity for employers and employees to learn from each other.

“From my experience high potential employees typically demonstrate more grit, loyalty and enthusiasm for having been given the opportunity. The challenge of the unknown and the excitement of acquiring new skills keeps them motivated and engaged and helps retain them for longer.”

Phill adds: “We are seeing more employers now consider junior and potential-based hires as an invest into a more long-term approach by building a pipeline of talent for the future. Whilst helping to ease the workload, within 3-6 months these candidates are more than capable of having a sound understanding the industry and job role, whilst bringing a fresh approach and eagerness to learn.”

Costly Hires
Finding the ‘ideal’ candidate in a knowledge/experience-based hire comes at a premium.

In the UK, 89% of companies take more than a month to fill a position, yet a whopping 40% of those hires are unsuccessful, and it takes a month to a year to reach a mutual decision that the employee was not the right fit.

Tellingly, only 20% of hires fail because of a lack of knowledge or expertise. The remaining 80% fail for reasons ranging from a mismatch in culture, attitude, and ethics.

Spotting High Potential
Responding to growing demand from companies, Walters People digitalised the standard CV to now include a video interview of the prospective candidate. This provides the client with the opportunity to screen a candidate – beyond a paper resume which lists qualifications and experience – and instead assess an individual’s communications skills, confidence and enthusiasm. Of those CV’s that do include a video interview, there has been a 60% increase in candidates being selected for a face-to-face interview.

On advice to employers when considering potential-based hires, Phill adds:

“The main objective of an interview should be to understand what the candidate is looking to achieve in their life and career, and whether there’s a good match between their personal goals and your company objective and values.

“Every role is going to have its own unique challenges and I believe that intrinsic motivation is key to keep employees going in the long run, which is why it is crucial to get to the bottom of what the candidate seeks in working at your company. If an employee is working towards their personal and career goals, then the person will be motivated to learn and strive for success.”

Recognise Financial Services announces double senior hire

Recognise Financial Services Ltd has announced the appointments of David Jenkins as chief financial officer and Patrick Ferguson as chief risk officer to the executive team, highlighting the increasing metabolic rate of preparedness for the forthcoming SME Bank launch planned for 2020.

Previously David was director of finance and capital management at Aldermore and lead business partner to the commercial divisions of the Bank, covering SME banking, commercial and retail mortgages and SME and retail deposits. In previous leadership roles at Prudential, Lloyds and ABN AMRO, David managed major finance transformation programmes and specialises in building or rebuilding high performing finance teams.

Patrick is a qualified accountant and chief risk officer who has operated at executive and board level in retail financial services for the past 13 years. Past roles have included chief financial officer and finance director at Dunfernline Building Society, followed by 9 years as risk strategy and planning director at Newcastle Building Society, a main board position.

Recognise, a subsidiary of AIM Listed City of London Group plc, will offer financial services to the UK SME sector and the retail and business deposits market. Subject to the granting of a banking licence, Recognise will target the underserved SME sector. Earlier this month, Recognise confirmed it had submitted its application for authorisation, with a view to launching next year (subject to approval). Recognise’s customer-focused technology will enable it to deliver a seamless and enhanced banking experience to a growing group of dissatisfied SMEs.

Jason Oakley, CEO of Recognise said “I am delighted to welcome not one but two highly experienced members to the Executive team at Recognise. Their impressive career profiles and knowledge adds to the breadth of expertise we now have sitting across our top team and will help continue to guide the business on the next step of our journey, towards achieving a full banking licence and entering the market. I would also pay tribute to Adrian Golumbina, who after 18 months of tireless effort, whilst staying in the leadership team of Recognise, will now also support our parent, City of London Group plc, as Group CFO and a director of Acorn to Oaks Financial Services Ltd. Adrian will be key to help unlock the wider potential of City of London Group”.

David Jenkins commented “This is a great opportunity to join an exciting new venture with an experienced team and a very credible business plan. I am looking forward to the CFO role and particularly supporting Jason Oakley and the executive team in creating a new SME lending business”.

Patrick Ferguson commented “The timing of my appointment is opportune as the Recognise team have recently submitted their formal application. My focus will be on ensuring that this new SME Bank continues to build strong and dynamic risk credentials to match its great ambition and to ensure its long term success”.

LendInvest’s Andy Virgo takes on head of key accounts role

LendInvest has announced the promotion of Andy Virgo from business development manager to head of key accounts for LendInvest.

In his new role Andy will now be championing the day to day relationship management of LendInvest’s distribution network, including Mortgage Clubs and Networks.

Andy will also be focusing on developing and delivering strategic marketing initiatives, helping to engage potential partners with the business.

Andy joined LendInvest as a BDM for the South of England in 2017 with over thirty years’ experience in both mortgage sales and broking. He previously held roles at Interbay Commercial, OneSavings Bank, Christie Finance, Natwest Bank, and successfully ran his own property finance brokerage between 2006 and 2011.

This announcement follows the addition of three new hires to LendInvest’s field-based BDM team in 2019, with the business most recently hiring Jan Gallagher to cover the North West of England.

Ian Boden, sales director at LendInvest, said: “After successfully extending our product distribution and partnering with a growing roster of industry leading Mortgage Clubs and Networks, i’m delighted to announce Andy as champion of these important relationships for the business. Andy’s extensive experience as both a broker and BDM makes him uniquely qualified to take on this new role, and a challenge I have no doubt he will meet.”

Andy Virgo, head of key accounts at LendInvest, said: “I joined LendInvest in 2017 with the aim of assisting in the development of our buy-to-let proposition alongside my BDM duties. As such that new product line for LendInvest has grown from strength to strength, and our next natural step is to increase its reach to more brokers via Mortgage Clubs and Networks. Being involved in the internal committees charged with making sure we are the lender of first choice on both product and service is rewarding, and key to achieving that growth.”

Kingsway promotes Day to the board

Kingsway Asset Finance has announced the promotion of Mike Day to the board of directors.

Following a year of change and growth, with Kingsway becoming part of the Praetura Asset Finance ‘PAF’ Group, the newly created role of sales director is part of the next phase of growth for the company.

With over 35 years’ experience in the industry, Mike has spent the past 15 years leading the sales team at Kingsway, in the role of sales manager.

Adrian Anthon, managing director at Kingsway Asset Finance said: “The promotion is both in recognition of Mike’s important contribution to Kingsway’s success to date, along with the enhanced responsibility that Mike will be assuming, as a result of the company’s ambitious growth plans”.

Mike Day commented: “I feel very proud that the efforts of both myself and my team have been recognised in such a way. I look forward to the challenges ahead”.

When asked about the future plans for Kingsway’s sales team, Mike told us: “The future for Kingsway is very bright! As part of the rapidly growing Praetura ‘PAF’ Group, I am looking forward to expanding our sales team; through a combination of recruiting the best graduate trainees and experienced broker managers, to compliment the well-respected team we already have working here.

Our core values of being an asset to both the introducers we work with and their clients, will never waiver. Together we aim to be an integral part of the PAF Group becoming the independent funder of choice for asset finance brokers and business finance advisers (and their clients), throughout the UK”.

Uptick in UK financial services jobs as regions take roles from London

Despite the ongoing political and economic turmoil, demand for professionals to work across the UK’s financial services sector increased by 3% year-on-year in 2019. That is according to data from the Association of Professional Staffing Companies (APSCo) and business intelligence specialist, Vacancysoft.

While London continues to be the biggest hub for hiring financial services talent, recruitment activity decreased by 4% between 2018 and 2019. The North East of England recorded the largest year-on-year increase, with vacancies up by 32%. Growth has also been significant in Yorkshire and the Humber, where roles increased by 31%. This is likely the result of more financial firms ‘north- shoring’ – the growing trend of London firms moving operations to northern cities to reduce costs.

The research also reveals that consumer finance organisations are driving job growth in the sector, with vacancies up by 36%. Commercial banking continues to provide the lion’s share of professional opportunities, despite vacancies within these firms falling by 2% year-on-year.

HSBC was the top company for hiring across the sector. Lloyds Banking Group has seen the biggest annual increase, with job openings up by 87%.

Ann Swain, chief executive of APSCo, comments:

“Despite widespread concerns that Brexit would result in a crash in hiring, the sector has shown some signs of resilience, with vacancies outside of London, in particular, increasing as firms relocate or expand outside of the capital to take advantage of lower overheads and rich talent pools. Recent data released by recruitment software company, Broadbean, revealed that the average salary for financial professionals increased in 2019, reflecting how resilient the market is.”

James Chaplin, CEO of Vacancysoft, added:

“Technological advancements have undoubtedly impacted the financial services sector, and we can certainly see this evolution within consumer finance, with big tech firms, like Google, Facebook, Apple, Uber and Amazon, offering services like payments, checking, savings and investment services.”

“We have also seen consumer lending increase. In September this year, it grew by 8% to £9.86bn, marking the strongest rate of growth since October 2018 – which has increased demand for professionals in the sector.”