Ultimate Finance has recruited Vince Tovey as its national head of sales for trade finance, along with responsibility for the invoice finance sales team based in the Manchester office.

With 30 years’ experience in international banking and asset based lending, Tovey (pictured) will be developing the trade finance offering on a national level whilst continuing to drive the growth of Ultimate Finance within the North West region.

He previously worked for NatWest Bank and HSBC, prior to moving into the asset-based lending sector with Davenham and Aldermore.

Tovey said: “It is great to be joining a company with a real appetite to lend. The significant funds made available by its parent company Tavistock means we can work closely with brokers and SMEs to help find a solution to their cashflow needs.

“I am confident the next few years will see Ultimate Finance expand its market share considerably as many SMEs continue to struggle to find the right funding partner to help grow their business. For this reason I believe we will become the lender of choice as we continue to provide the flexibility and solutions to suit their requirements.

“This is an exciting time to be part of a very forward thinking business and I look forward to adding real value.”

Group sales director, Richard Waldman, added: “I have previously worked with Vince so I know about his impressive track record and the skills and experience he will bring to both the Trade and Invoice Finance teams.

“He is highly respected within the sector and the fact we were able to attract him to the business demonstrates the high regard in which we are now held within the market.”