Shawbrook Group plc has announced that Simon Featherstone has joined as managing director of its business finance division, which consists of the group’s existing asset finance and business credit businesses.

Featherstone was previously global chief executive of Bibby Financial Services (BFS). Prior to this, he was managing director of Lloyds TSB Commercial Finance, network director of Lloyds TSB Commercial Banking and CEO and chairman of The Agricultural Mortgage Corporation Bank.

He was Lloyds Banking Group’s regional ambassador for the Midlands, with responsibility for promoting the wider Group’s interests across key external stakeholders. He also spent 10 years at Barclays Bank.

Featherstone is currently a board member of the International Factors Group, a global trade association that represents the factoring, invoice financing and asset based lending industry. He is also on the Board of the UK’s asset based finance association.

At Shawbrook he will be responsible for asset finance, invoice finance and wholesale finance. He will work with the existing teams to build an integrated SME financing business initially operating from six regional centres, but with plans to expand this footprint.

Steve Pateman, Shawbrook’s chief executive officer, said: “Simon has an excellent track record in SME lending and a keen focus on customers and I am delighted he is joining Shawbrook.

“Increasingly business customers want a holistic approach to lending and Simon will help us to bring our asset finance, invoice finance and wholesale finance offerings together to build out a broader SME financing proposition to meet this demand.”

Featherstone added: “I am extremely excited about joining Shawbrook as the opportunity to build out a commercial lending and deposit proposition within the market is huge.

“Shawbrook has an excellent reputation in the intermediary market and I look forward to working with the senior team to build on our scale and proposition for our clients.”