Rachel Eade appointed to key advisory banking role
ONE of the most-respected experts in the West Midlands manufacturing industry has joined Clydesdale and Yorkshire Banks to advise on their support to the UK automotive sector.
Until the end of March, Rachel Eade was national automotive lead for the Manufacturing Advisory Service. She was forced to leave her post when the Government unexpectedly pulled the plug on the support service at the end of last year.
Ms Eade, who received an MBE for services to the UK’s car manufacturing sector in 2014, will be based in Birmingham, and will have a UK-wide role as part of Clydesdale and Yorkshire Banks’ specialist automotive team, which was established in 2015.
In her 20 years in the industry, Ms Eade has developed an unparalleled knowledge of the automotive supply chain. In her roles as operations manager of supply chain initiative Accelerate and then with MAS, she has worked with more than 5,000 companies.
Her role at Clydesdale and Yorkshire Bank, working alongside head of manufacturing Kevin Rimmer and automotive directors Heather Griffin and Meg Salt, will be to support the bank’s new and existing customers in the supply chain.
She will work closely with an automotive team set up to specifically support businesses in the sector, with a particular focus on those which require tooling finance. Manufacturers in the supply chain typically invest between £30,000 to £1m for each new piece of tooling, but tend not to see a return on that investment for around 18 months.
The bank’s financial support includes a rolling tooling finance facility which allows automotive manufacturers access to funding as and when they require new tools, rather than having to apply for funding every time a new tool is required.
Kevin Rimmer, Clydesdale and Yorkshire Banks’ head of manufacturing, said: “Rachel’s experience working with UK manufacturers and supply chain partners is unrivalled. She is regularly called upon to work with industry bodies and support programmes, to drive innovation in the sector and to develop the next generation of industry leaders. She will work closely with our customers to unlock opportunities and improve supply chain efficiencies.”
Ms Eade said: “Clydesdale and Yorkshire Banks are committed to the growth of the UK’s automotive sector, and I am looking forward to supporting new and existing customers, and the bank’s own industry experts.
“The outlook for UK manufacturers and those in the supply chain, while buoyant, is not without its challenges. Skills shortages remain a constant issue, which presents future recruitment hurdles to overcome.”
