Asset finance firm Arkle Finance has appointed Daniel Bailey as managing director.

Bailey has previously served as a director and as an associate director during a 12-year career at the company. He succeeds Stephen Bassett, who is leaving in December after piloting Arkle through a sustained growth phase since 2009.

The funder has lent more than £50m in 2017. SMEs and high-growth businesses have accounted for 90% of the funding Arkle has provided this year.

Bailey has already appointed Brian Jerome as an associate director with key responsibility for sales.He has more than 30 years of experience in the asset finance sector, having worked at D&D Leasing, GE and Barclays.

Bailey said: “Brian is joining us at an exciting time. Arkle has enjoyed a year of record growth in which our reputation for strong, client-centric service has proved decisive.

“Brian has an unmatched pedigree in the asset finance sector and an enviable contacts book, and he will play a crucial role in the next stage of our growth story.

“Arkle has made significant investment into its systems and people in 2017, giving us a platform for further progress that will ensure we maintain our high service levels as we handle higher volumes of business in 2018.

“Our goal now is to consolidate our success in lending to businesses and consumers, by leveraging our market-leading expertise in marine, aviation and education sector finance too.”