Nick Smith has been promoted to the position of group managing director of Reward Finance Group.

Smith (pictured) takes over the role at the alternative finance provider from founding directors, David Jones and Tom Flannery.

Both will continue as directors and are committed to the business for at least the next two years.

Having joined the company in June 2016, as group sales and marketing director, Smith acquired a significant minority stake in tReward Finance Group in March 2017.

Towards the end of 2018 he added to his responsibilities by becoming managing director, North West, with the task of growing Reward’s presence across the Pennines through its new Manchester office.

Smith said: “From a standing start, nine years ago, David and Tom have built an exceptional business within the alternative finance sector.

“In addition to our Yorkshire heartland, where the business was first established, we now have a strong presence in the North West, through our Manchester office.

“Like all good businesses, we put a succession plan in place a few years ago, which has now come to fruition. I am delighted to say that both Dave and Tom, who are extremely well connected and respected within the industry, will be working closely with me, as well as completing deals, for at least the next two years.”

Jones added: “Nick was hand-picked by me as someone who could drive Reward forward into this decade. His commitment, and the start of the succession planning, was sealed when he bought into the business seven months later.

“Two years ago, Nick took over our fledgling North West office and has since built a fantastic sales and operational team which is making a massive contribution to the success of Reward.

“Although these are trying times for all of us, I believe with Nick, and the high calibre team he has assembled, the business could not be in safer hands.”