Secure Trust Bank Business Finance (STB BF) has appointed Nick Leitch as head of asset-based lending (ABL) as it targets further growth across the UK mid-market.
Leitch (main picture) brings more than 30 years’ financial services experience spanning asset-based and leveraged finance, restructuring, debt advisory and private equity.
He joins STB BF from strategic advisory and investment business Heligan Group, where he was Managing Partner of Investments.
Prior to Heligan, Leitch spent eight years at Shawbrook Bank, where he led its ABL and leverage corporate lending operation and helped grow total facilities to £1bn.
His appointment comes as Secure Trust Bank continues to expand its Business Finance operation, which completed ten ABL transactions worth more than £280m last year.
MID-MARKET GROWTH
Leitch began his career with a number of high street banks before moving to EY, where he led business development activity within restructuring.
He subsequently spent a decade in private equity with Seneca Partners and Endless, working across origination, equity investment and portfolio strategy.
At Secure Trust Bank, he will be responsible for developing its ABL proposition and increasing its presence among mid-market businesses, management teams, private equity sponsors and advisers.
Leitch says: “The STB team has built a highly regarded ABL offering, having supported a number of leading businesses right across the UK. It’s why it felt like the right fit to join as head of ABL, leveraging this reputation and team strength to help more mid-market businesses access the funding they need to grow.
“We’re increasingly seeing how ABL is moving into the mainstream, with businesses and sponsors utilising it to diversify senior debt structures and unlock deals. Having worked across leveraged finance and private equity, I’ve seen where all these elements augment together, which will be essential to ensure we continue to evolve our offering and work with key management, investors and funders.”
‘CORE PART OF OUR CONTINUED EXPANSION’
STB BF’s recent transactions include a £60m facility for Cromwell and a £10m facility for PayItMonthly.
Luke Jooste, managing director at Secure Trust Bank Business Finance, says: “Nick’s wealth of knowledge and diverse experience across financial services will be essential in ensuring our ABL offering best meets the needs of businesses across the UK.
“His proven track record of growing national teams will be a core part of our continued expansion across Business Finance, providing a comprehensive service offering for businesses to access the bespoke finance they need to scale and grow.”
