Factor 21 appoints Richard Walker as new Regional Director - Scotland
August 16, 2017
Appointment a reflection of focus on geographical expansion.
19 July 2017: Factor 21, a leading invoice finance provider, has appointed Richard Walker as its Regional Director - Scotland. Walker will be responsible for developing Factor 21’s presence in Scotland as the firm pursues a geographical expansion strategy following a successful MBO in 2016.
Richard will oversee the development of a new client operational centre based at West George Street, Glasgow. The appointment comes at a time when Scotland’s business community has gradually had to come to terms with the fact that political uncertainty, both domestically and internationally, seems to be the new norm. Factor 21 believe that Scottish businesses have a crucial role to play in driving the economy and need to maintain their focus on growing their businesses.
As Richard comments “Scotland has a thriving business community with 350k private sector businesses – the second highest figure since 2000. Although this is a decrease of 3% since 2015 this is driven by a fall in small sole traders and partnerships that are not registered with registered businesses hitting an all-time high. These SMES are vitally important as they provide 1.2m jobs”.
Richard brings with him over a decade of experience spanning invoice and asset finance, most notably within Lloyds TSB and latterly at Aldermore Bank. During his time, he has worked with a wide range of clients ensuring that they have access to funding facilities ranging from £100k to £10m.
“With the CBI launching Scotland’s’ Growth Strategy, it was a perfect time to join Factor 21. They are committed to delivering a locally based operation which understands local businesses and their markets. The opportunity to join a business in the sector, with such a strong commercial perspective, access to large funding pools and a commitment to delivering a market leading service, was impossible to ignore. With funding facilities available up to £1.5m I am looking forward to supporting Scottish firms and their growth aspirations.” explains Walker.
Factor 21 has seen consistent growth. We have already funded over £2 billion worth of invoices to British SME’s and hope to significantly increase that number with the opening of the Scottish office. The business attributes this continued growth to delivering fast and flexible finance solutions to clients on their own terms, which is aimed at delivering a transparent and professional service to both intermediaries and clients.
Darren Cottenden, Managing Director at Factor 21 (North), said: “We are delighted that Richard has joined the team as such an exciting point in our development. His client centric focus makes him the ideal choice to lead our move into Scotland. He understands the importance of building transparent and local relationships with businesses and their advisors and we are looking forward to making a difference to Scottish businesses.
For Factor 21 enquiries, please contact:
+44 (0)7753 671 302
About Factor 21
Factor 21 is an invoice financier providing funding facilities up £1.5m to support the growth of SME’s through the provision of flexible working capital facilities. The business has grown significantly since its launch in 2001, providing over £2 billion of funding to businesses.