Time Finance has announced that Ed Rimmer has been confirmed as the permanent CEO with immediate effect.

Having previously held the position of chief operating officer until April 2020, Rimmer was reappointed as interim CEO three months ago.

Time Finance specialises in the provision or arrangement of funding solutions using asset finance, invoice finance, loans and vehicle finance.

His career spans over 25 years and he has a commercial, financial and operational track record in financial services.

He initially joined the group in 2017 as managing director of their newly established commercial finance division. Prior to that he was UK CEO of Bibby Financial Services.

Rimmer said: “Time Finance is a strong business operating in a sector that has played a critical role helping small businesses across the UK through the disruption of Covid-19. Our industry holds a unique opportunity to inspire confidence and growth in the UK SME market and to support businesses who are looking to recover and grow in post covid times.

“I am confident that Time Finance is in a great position to lead the sector in doing so. We have exciting plans to further develop our business as a multi-product independent SME funder helping businesses to recover and grow and I look forward to leading the business through the next stage of its journey.”

John Newman, chairman of Time Finance, added: “We are delighted to have secured Ed’s talents on a permanent basis. He is a well-respected and proven chief executive with an exceptional record and was a natural choice for the Group.

“Not only does he bring enormous depth of experience of the wider Financial Services market from his time with Bibby, but he also has an in-depth understanding and grasp of the Group from his time as its COO. We are excited about the vision and leadership that he will bring to the business and for the future of the Group”.