Trio promoted following restructure at Aldermore Invoice Finance

ALDERMORE has promoted three of its staff as part of a restructuring of its invoice finance division.

Reporting to invoice finance managing director Damon Walford, Nick Smith has taken on the role of regional managing director for the northern region.

Mr Smith was previously managing director for Yorkshire and the North East.

Ross McFarlane has been appointed regional managing director for the south and Midlands, while John Dodsworth becomes strategic development director.

As part of the restructure, the structured finance business has been consolidated into the invoice finance division and as a result of this, Yorkshire-based Ian Flaxman, who joined as head of structured finance in 2011, has now left Aldermore.

Mr Walford said: “Nick, Ross and John have all held senior positions within Aldermore Invoice Finance and therefore have considerable experience of both the business and the market in which it operates.

“The restructuring, announced prior to Christmas, has enabled us to streamline the business in preparation for the implementation of ambitious growth plans during 2013 and beyond.

“We’re in good shape to meet the challenges of a demanding market and I have full confidence that under the expert guidance of Nick, Ross and John, Aldermore Invoice Finance will continue to go from strength-to-strength.”

During 2012 Aldermore Invoice Finance increased lending to more than £200m, which represents a growth rate of 27%.

As reported by TheBusinessDesk.com yesterday Aldermore has lent more than £2bn since first opening its doors for business in 2009.