United Trust Bank has appointed experienced asset finance professionals Jonathan Gee and Joseph Silva to lead its expansion into the materials handling equipment (MHE) sector as the Bank builds its new vendor finance business.
Jon Gee joins UTB as head of materials handling having spent 18 years at Close Brothers where he rose to become sales director. Joe Silva brings 10 years of asset finance and MHE experience gained with BNP Paribas and Close Brothers, most recently as regional finance manager. Joe joins UTB as regional dealer manager.
The appointments support UTB's creation of a new vendor finance operation. Jon and Joe will develop a dedicated materials handling equipment finance proposition for UTB, working with equipment dealers to provide finance for their customers as well as funding for dealers' own short and long-term hire fleets.
The new offering will include contract hire, with or without maintenance, and hire purchase facilities, giving dealers a range of options to support equipment sales, fleet investment and their customers' business requirements.
UTB is also developing a dedicated digital dealer portal which will enable dealers to submit proposals, track applications and monitor the progress of transactions in real time.
The move represents a further expansion of UTB's asset finance business, in addition to its established broker proposition and the introduction of Stance Asset Finance.
Nathan Mollett, managing director of asset finance at United Trust Bank, commented: "We're moving quickly to establish the specialist teams and capabilities which will underpin our new vendor finance business. Materials handling is an important sector with considerable potential, and Jon and Joe bring exactly the market knowledge, experience and relationships we need to establish UTB as a credible and competitive funding partner for dealers.
"We know dealers want more than just competitive pricing. They need a finance partner who understands their business, responds quickly, makes sensible decisions and delivers consistently. That's the proposition we're building, combining experienced people with technology designed to make doing business with us as straightforward as possible."
Jon Gee said: "Having worked in asset finance for many years, I know how important it is for materials handling dealers to have a funding partner they can rely on. There's a real opportunity to bring something fresh to this market and we're looking forward to getting out and talking to dealers about how UTB can support their businesses."
Joe Silva added: “I know how much difference a responsive and knowledgeable finance partner can make to dealers and our aim is to make the funding process simpler, help dealers complete more business and build relationships which last.”
