Aldermore, the bank set up two years ago by a group of investment funds, is to open an invoice finance office in Bristol as part of its ambitious expansion plans.
The base, which will provide a range of financial services to small and medium-sized businesses across the South West, will take to nine the bank’s national spread of offices.
It will be headed by John Dodsworth, former head of strategic development at Royal Bank of Scotland Invoice Finance, who has also held positions as its regional sales director for London and the South and as an associate director with responsibility for business development.
John said: “Aldermore has very quickly built an enviable reputation as one of the UK’s most dynamic young banks and I’m looking forward to helping strengthen the bank’s proposition to small and medium sized businesses.
“Aldermore’s new offices will become regional business growth centres and allow us to be closer to our clients and take advantage of the pool of talented people living in those areas.”
Aldermore was launched with backing from AnaCap and Morgan Stanley Alternative Investment Partners, Morgan Stanley’s Private Equity Fund of Funds business and new investment from the consortium of funds managed by Goldman Sachs Asset Management, Honeywell Capital Management and the Ohio Public Employees Retirement System. It raises deposits from consumers and lends to homeowners and small and medium sized businesses.
Group managing director of commercial finance Ian Wilkins said: “Aldermore is committed to supporting British SMEs throughout the country and we believe it’s important to have regional representation in those areas in which our clients’ businesses are based.”
