Lloyds Banking Commercial Banking has made two senior appointments to further expand its working capital expertise for UK SMEs.
Simon Quin, who previously worked as head of international trade at the bank, will now serve as area director for SME Global Transaction Banking (GTB) in the North East, Yorkshire and Scotland regions.
He will lead a team of 10 regional managers specialising in the provision of invoice finance facilities to businesses with a turnover of between £1m and £25m.
Tracy Gillett will take up the newly created role of working capital solutions director. Based in London, she will work with the SME GTB leadership team to maximise working capital solutions for customers.
Having previously worked in the Mid Markets team at the bank, Tracy will be responsible for ensuring clients’ working capital and risk mitigation requirements are met to support both domestic and international trading.
Both Simon and Tracy will report directly to Andrew Charnley, national sales director for Lloyds Banking Group SME GTB.
Andrew said: “We know from our recent Working Capital Index research that British businesses have £498bn tied up in excess working capital.
“SMEs often need help to access their share of this, and Simon and Tracy’s expertise and enthusiasm are just one of the ways we can add real value to our clients’ business and help Britain prosper.
“They’ll also play a major role in working with knowledge-based industries and brokers as we continue to attract new clients to Lloyds Bank.”
Tracy Gillet said: “SMEs are the lifeblood of our economy, and helping them to better manage their cashflow is a key focus for us at Lloyds Bank.
“Working alongside my team, we’ll be helping firms across the UK to improve their working capital management and continue to grow.”
Lloyds Bank Commercial Banking has created a range of products to help its clients’ working capital needs. These include an online hire purchase quote calculator, capital import finance product and working capital management tool to help businesses improve their working capital.