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Tuesday, July 23, 2024
AppointmentsSenior appointment for Manchester-based finance firm

Senior appointment for Manchester-based finance firm

A Manchester-based independent business finance firm which operates across the UK has bolstered its structured finance team with a new senior appointment to support the company’s ongoing expansion.

John Platt has joined PMD Business Finance from Natwest’s Corporate Banking team, where he worked for 14 years, most recently as relationship director.

In his new role as structured finance director, John will assist clients across the UK on all aspects of structured finance requirements including acquisitions, management buyouts, employee enterprise trusts (EOTs), restructuring and growth capital. The firm’s structured finance division was formed by PMD’s Callum Bull in 2020 and has since grown rapidly, supporting over £60m of transactions.

John will also lead a new property funding division which will see PMD offer specialised brokerage services such as commercial mortgages and development finance.

Tom Brown, director, PMD Business Finance, said: “Over the past year, PMD has grown from brokering £150m of lending each year to around £180m across a variety of sectors and clients.

“John’s appointment is an important part of our ambition to reach £250m lending in the next 12 months and to further cementing our position as the UK’s largest independent business finance intermediary.

“Over recent months, we have seen a significant rise in demand for property finance, both from introducers and clients. We are excited to be launching a new property funding division to support the requirements of new and existing clients in this area.”

John’s recruitment is the latest in a string of senior appointments at PMD in recent months, taking the company total staff numbers to 50.

PMD is based in Oldham, Greater Manchester and was acquired earlier this year by its management team – Tom Brown, Lee Schofield and Rob Dermody – from founders Peter Dobson and Mike Rodgers.

With over 150 funding lines, PMD provides solutions for businesses looking to expand, improve cash flow, purchase property or acquire plant, machinery and vehicles. In addition, it also assists businesses through its structured finance team in restructuring debt along with providing finance for acquisitions, management buyouts, EOTs and trade sales.

John Platt said: “I’m excited to be taking this step in my career, one which will allow me to be part of the story of one of the UK’s most exciting independent finance providers. I’ve known the team at PMD for many years and am looking forward to using all of my experience to help PMD clients and introducers with both structured finance and property finance requirements.”

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