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Clydesdale & Yorkshire Bank launches new corporate asset finance team

Clydesdale and Yorkshire Bank Corporate & Structured Finance has expanded its services with the launch of a new corporate asset finance team.

Ian Barr, who is head of Clydesdale’s existing asset finance function, will lead the new team which will provide asset finance to mainly listed companies and larger privately owned businesses. Ian is joined by four new arrivals – Iain Corbett, Gordon Young, Neil Roberts and Peter Burton – all of whom have moved from Fortis Lease UK.
 
The new service will provide funding for a wide range of assets including most types of vehicles, general plant and machinery, manufacturing equipment, aircraft, and marine vessels. Key sectors will be vehicle rental and contract hire, transport and logistics, manufacturing and industrial, energy and renewables, agriculture, and local authorities
 
Clydesdale and Yorkshire Bank offer a full suite of traditional asset finance products as well as having a loan and mortgage capability for use in the marine and aviation markets. Typical transactions will be in the £1 million to £25 million range. Each transaction will be structured to match the asset lifecycle and the client’s repayment capability and can include, for example, seasonal or staged payments and agency arrangements. The bank can also offer foreign currency lending.
 
Barr has extensive experience in banking. Having started his career with Clydesdale Bank in 1981, he has been involved in asset finance since 1992 when he joined EFT Finance. He rejoined Clydesdale in 1999 in an asset finance role and was appointed as head of the Bank’s asset finance operation five years ago.
 
Iain Corbett and Gordon Young each have around 30 years’ experience in banking and for much of that time have worked in senior roles in asset finance. Iain was head of sales at Fortis Lease while Gordon was head of fleet. Both take on the role of directors in the new team.
 
Neil Roberts and Peter Burton, who join as associate directors, have each spent over ten years in banking and finance and have particular experience in wholesale vehicle funding. At Fortis, Neil was responsible for developing pan-European relationships with vehicle vendors, while Peter was a senior credit analyst, having previously worked in a similar role at Ford Credit.
 
Paul Shephard, divisional director, Clydesdale and Yorkshire Bank Corporate & Structured Finance, says: “The launch of our corporate asset finance service recognises that larger companies often have more complex finance requirements. It allows us to build on our existing relationships with corporates and provide a service tailored to their needs.
 
“The new service also highlights the continued growth of Clydesdale and Yorkshire Bank Corporate & Structured Finance. Having become established as a key player in acquisition finance, we have also built a solid reputation in the corporate arena and over the past two years have participated in refinancing arrangements for some of the UK’s best known names. The launch of corporate asset finance follows that of corporate real estate as we continue to develop our offering.”

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