Lloyds boosts corporate asset finance team

Andrew, who has more than 25 years’ experience working in IT leasing for the likes of IBM and Cisco, has been tasked with heading the bank’s technology leasing team, which specialises in helping businesses fund major investments in IT infrastructure.

Corporate Asset Finance supports businesses with turnovers of more than £100 million seeking funding solutions of £250,000 and above.

Andrew’s appointment strengthens the team’s ability to take residual value positions on a broad range of IT equipment.

He said:

“Investing in technology can be challenging for a lot of businesses. Unlike one-off purchases of other major pieces of equipment, investment in IT can be an ongoing programme, with many of the funding solutions available tied to individual manufacturers or service providers.

“This new role offers me the chance to expand Lloyds’ work in this area, offering customers the chance to choose both the IT and the finance they need based on what are the best solutions for their individual needs, rather than be forced to compromise their choice of one or the other.”

Patrick Sherrington, head of Corporate Asset Finance at Lloyds Bank Commercial Finance added:

“We support businesses making very significant investments by understanding their individual business needs and providing the best source of finance to fit.

“To do that, we need people with the in-depth expertise both in the equipment our customers are investing in, and the finance solutions that best match their needs.

“The fact that Andrew has spent 25 years working in this sector, supporting businesses making a huge range of complex investments, means he is ideally placed to support our customers as they grow.”