Ultimate Finance has announced that Richard Waldman has been promoted to group sales director with immediate effect.

Waldman (pictured) joined the business a year ago specifically to set up the Scotland operation. In the latter part of 2015 his role was widened to northern sales director looking after the new business teams in Glasgow, Manchester and Leeds.

He has worked in commercial finance for more than 20 years for both bank-owned and independent lenders. He started his career with Royal Bank of Scotland and, a decade later, left to set up Cattles Invoice Finance in Scotland. He helped take it from a start-up business to over 120 clients, as well as overseeing the transition of the business into challenger bank Aldermore which, at the time of his departure, was one of the largest independent lenders in the market.

Waldman said: “I am delighted to have been given the opportunity to lead and continue to grow the team at Ultimate. We have an impressive track record and I am keen to build further on the good work achieved by the team to ensure we remain the provider of choice for SMEs.

“We’ve a real desire to work closely with our introducers to ensure that we can provide a high level of support to our clients.”