Wyelands Bank, set up to help small and medium businesses, has appointed Ian Flaxman as Managing Director, working capital solutions.
Ian will focus on expanding Wyelands Bank’s asset-based lending offering, helping provide businesses with greater access to funding. His appointment is part of the bank’s strategy to help manufacturing and industrial businesses to trade and grow through the right combination of simple working capital solutions.
Since opening its doors on 21 December 2016, Wyelands Bank has grown rapidly. Total assets rose from £24 million to in excess of £600 million, in its first 12 months. Over that time, the bank’s interest earning asset book grew on average by around £30 million per month since April 2017.
Ian Flaxman, managing director, working capital solutions, at Wyelands Bank, said:
“In a short space of time, Wyelands Bank has become known as a bank that understands its customer’s businesses and helps them to grow. They have achieved this by focusing on what a business really needs, tailoring solutions that are flexible and operate without product silos.
“I’m looking forward to being part of a growing Bank and working with the team to continue to develop our capabilities and provide even more businesses with access to working capital.”
Iain Hunter, CEO at Wyelands Bank, said:
“We take the time to get to know and understand the businesses we support, ultimately helping our customers to trade, grow and create jobs. With a strong track record in asset-based lending, Ian’s appointment is further evidence of that commitment and will ensure our team can continue to deliver innovative and high-quality working capital solutions.”
Ian has 20 years’ experience in the asset-based lending industry, and has a track record of building successful UK teams that specialise in supply chain, receivable, inventory and asset-based lending.
Prior to joining Wyelands Bank, he was a Director at HSBC where he was responsible for deal structuring and execution of large corporate asset-based lending facilities. Before HSBC, he held senior management positions with Credit Agricole, Aldermore Bank, and the National Australia Group all with a focus on asset-based lending.