Bibby Financial Services (BFS) has announced the appointment of Derek Ryan as managing director.

Ryan will joins BFS on 1 September with more than 17 years’ experience in commercial finance having held a variety of senior executive, global operations and strategy positions across the financial services sector, including roles in the UK, Germany, Sweden and Indonesia.

Most recently, he was global head of invoice finance at Siemens Financial Services – Commercial Finance where he also spent time as head of global operations and as CEO for Indonesia and CEO for the Nordics.

Jonathan Andrew, global chief executive of Bibby Financial Services, said: “Following a rigorous recruitment process, I’m delighted to welcome Derek to BFS. Attracting an individual with Derek’s skills and experience demonstrates our ambition and I’m confident we will continue to significantly grow our support for UK SMEs with him on board.

“We want to embrace the fourth industrial revolution and digital technology to enhance the entire customer journey for new and existing clients. With our new structure and strategy in place, this is an incredibly exciting time for BFS and I look forward to working alongside Derek to drive forward innovative change to support the UK’s economic recovery.”

Ryan said: “Growing up being part of a family business in Dublin, I know how important it is for SMEs to partner with organisations that truly understand the challenges and opportunities they encounter. BFS is a hugely innovative business with a fantastic client-base and highly engaged, experienced colleagues.

“More than ever SMEs need to partner with financiers that offer more than just funding, and this is what BFS excels at. I’m delighted to join the business at such a pivotal time in its growth trajectory, and look forward to meeting colleagues, clients and intermediary partners alike over the coming weeks.”