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Aldermore raises £36 million to fund continued support for small businesses

Tue, 15 May 2012 00:00:00 GMT

Aldermore, one of Britain's leading challenger banks and a participant in the government's National Loan Guarantee Scheme, is pleased to announce that it has successfully raised £36 million of new capital.

The investment was made by funds controlled by Centerbridge Partners, L.P., a leading private investment firm, which acquired Tier 2 bonds issued by Aldermore bank plc. This represents Aldermore's second successful capital raise in less than a year after the bank secured a £62 million equity investment from a number of blue-chip investors last September. This investment strengthens Aldermore's position as one of Britain's most strongly capitalised banks.

The new funds will enable Aldermore to continue to meet the strong demand for its accounts and services from both retail customers and small and medium sized enterprises (SMEs), whilst retaining its focus on credit quality. Aldermore now has 65,000 retail depositors, 4,300 residential mortgage customers, and has lent £812 million to over 10,000 SMEs.

Phillip Monks, Aldermore's Chief Executive, said:"We are delighted to secure the participation of another blue-chip investor - and for the ongoing support from our founder investors, AnaCap Financial Partners and Morgan Stanley Alternative Investment Partners. The new funds provide us with the opportunity to do even more to champion Britain's small businesses, the lifeblood of our economy. Our strong capital position also enables us to look at a number of new product and service launches to further meet the needs of our customers. I would like to thank all our investors for the confidence they have shown in Aldermore as we strive to do things differently."

For further information journalists can contact:

Neil Bennett / Sam Turvey / Andrea Coleman - Maitland

020 7379 5151

About Aldermore

With equity backing provided by funds advised by AnaCap Financial Partners, Morgan Stanley Alternative Investment Partners, Goldman Sachs Asset Management, Honeywell Capital Management, and Ohio Public Employees Retirement System, Aldermore is dedicated to responsible lending to UK homeowners and small and medium sized businesses

Aldermore raises funds primarily through customer deposits, is not dependent on the wholesale, securitisation or international capital markets and has not been involved in any banking activities or the marketing of any exotic products which have been the cause of problems for so many financial institutions.

As a British bank, Aldermore is regulated by the Financial Services Authority and is registered under the Financial Services Compensation Scheme, which means customers' savings are protected up to the statutory limit of £85,000 per person. Aldermore is also a member of the Council of Mortgage Lenders.

Aldermore's total balance sheet assets currently stand at £1.7 billion and this is growing at approximately £70 million per month. The Bank's balance sheet is forecast to close in 2012 with assets of £2.5 billion.

Since 2009, Aldermore has lent £812 million to over 10,000 SMEs. It funded £1.6 billion of client invoices through its invoice finance business in 2011.

Aldermore has made available to over 4,300 people loans for residential mortgages, totalling £574 million.

Aldermore has retail deposits of £1.5 billion and over 65,000 account holders. The bank broke even in June 2011 after only two years of trading, two months earlier than planned.

About Centerbridge

Centerbridge Partners, L.P. is a private investment firm with offices in New York City and London and approximately $20 billion in capital under management. The firm focuses on private equity and credit investments. The firm is dedicated to partnering with world-class management teams across targeted industry sectors to help companies achieve their operating and financial objectives.

Aldermore mortgage lending tops £1bn

Mon, 14 May 2012 00:00:00 GMT

British bank Aldermore has lent more than £1bn worth of residential and commercial mortgage funding since first opening its doors for business in the summer of 2009.

Mark Stephens, Deputy Chief Executive and Group Managing Director of Aldermore's Mortgage Division, said: "This is a fantastic result at a time when the general economy and the housing market have both been in the doldrums. Aldermore has been able to buck the trend and has consistently increased its lending volumes, whilst other lenders have been cutting back and tightening critera. Our strategy of being the champion of homeowners and SMEs is clearly very effective.

"We've maintained our focus on providing mortgage finance to creditworthy borrowers frustrated by intransigent high street lenders. Our strategy of assessing cases based on their own merits, rather than relying on automated credit scoring, has paid dividends and the quality of our loan book is excellent."

"We've invested heavily in skilled staff, market-leading technology and, most importantly, building productive working relationships with our introducer base, and those investments are all now proving successful. We have ambitious plans for our residential and commercial property lending and development finance businesses and will be making further announcements about new products and services over the coming weeks."

Further information about the full range of products and services available from Aldermore is available at: www.aldermore.co.uk.

**ends**

For further information journalists can contact:

Josh Cooper, PR consultant office: 01654 791385

josh@cooper-consultants.co.uk mobile: 07768 355265

Notes to Editors

About Aldermore

Aldermore is a new British bank and one of the best capitalised banks in the UK. With backing provided by AnaCap and Morgan Stanley Alternative Investment Partners, Morgan Stanley's Private Equity Fund of Funds business and new investment from the consortium of funds managed by Goldman Sachs Asset Management, Honeywell Capital Management and the Ohio Public Employees Retirement System, Aldermore raises deposits from consumers and lends to homeowners and small and medium sized businesses.

Aldermore does not depend on the wholesale, securitisation or international capital markets and has not been involved in any banking activities or the marketing of any exotic products which have been the cause of problems for so many financial institutions.

Aldermore markets its lending products via professional financial advisers and specialist commercial finance brokers located throughout England and Wales.

About AnaCap Financial Partners

Established in 2005, AnaCap is Europe's largest specialist private equity investment advisor in the financial services sector. Based in London and investing across Europe, AnaCap advises funds with more than €1 billion under management. AnaCap's funds invest in businesses with high growth potential and strong management teams. AnaCap works with management teams to improve infrastructure and business processes. It employs sophisticated, twenty-first century technology to create low cost, scalable, sustainable and highly digital based platforms. AnaCap's day-to-day support allows management to pursue growth strategies in the most efficient and effective manner.

AnaCap's team of professionals also assists investee companies in assessing and reducing key credit and market risks. This expertise in risk and liability management is a key factor in the strong performance of AnaCap's portfolio.

The success of AnaCap's investment strategy and team has attracted investment from highly regarded global institutional investors including Goldman Sachs, Allianz, Morgan Stanley Alternative Investment Partners, Honeywell, State of New Jersey and Adams Street Partners.

Steve Cooper adds strength to Aldermore Asset Finance’s construction team

Wed, 18 Apr 2012 00:00:00 GMT

New British bank Aldermore has strengthened its specialist construction equipment finance team with the appointed of Steve Cooper.

Steve Cooper joins Aldermore Asset Finance as Business Development Manager- Construction. Reporting to Head of Construction, Paul Rooney, Steve is based in Stafford and provides finance support to manufacturers, dealers and end-users of construction equipment and associated products.

Prior to joining Aldermore, Steve has gained more than 25 years experience in the construction equipment industry, both with manufacturers and dealers. He ran his own finance brokerage for 3 years and prior to that he was Regional Sales Manager for Kubota UK Ltd. Steve has also held senior management positions with Gunn JCB Ltd, Saville Tractors Ltd and Ammann Equipment Ltd.

Steve Cooper said: "I'm delighted to have joined Aldermore, which has already made a big impression in such a short time on dealers and manufacturers of construction equipment. The bank is very committed to supporting small and medium sized businesses and I'm delighted to be part of such a dynamic team."

Paul Rooney, head of Construction at Aldermore Asset Finance, said: "I would like to welcome Steve to Aldermore, where I have no doubt that his extensive experience of the construction equipment industry will stand him in good stead."

Aldermore Asset Finance provides funding for a broad range of business assets, from construction and materials handling equipment to cars and other types of plant and machinery. Information about the services available from Aldermore Asset Finance can be found at www.aldermore.co.uk.

**ends**

For further information journalists can contact:

Josh Cooper, PR consultant Office: 01654 791385

josh@cooper-consultants.co.uk Mobile: 07768 355265

Notes to Editors

About Aldermore

Aldermore markets its lending products via professional financial advisers and specialist commercial finance brokers located throughout England and Wales.

About AnaCap Financial Partners

Aldermore appoints David Soskin as Non-Executive Director

Tue, 17 Apr 2012 00:00:00 GMT

Aldermore, a leading British challenger bank, today announces that David Soskin has joined the Board as a Non-Executive Director with effect from 2 April 2012.

David brings 15 years of experience in the digital arena. He is currently a Non-Executive Director of a number of digital companies, including Cheapflights Media and mySupermarket.com. He is also an active partner of Howzat Media LLP, an internet media investment fund, which he co-founded in 2007.

David was CEO of Cheapflights Media from 2000 to 2008, leading it to become one of the UK's fastest-growing and most profitable digital businesses. In 2008, the company delivered £2 billion in flight revenue sales to its travel partners and attracted 80 million users to its websites on both sides of the Atlantic. Prior to this, he led the global media corporate finance team at ABN AMRO Bank N.V.

David is the author of the best-selling book 'Net Profit: How to Succeed in Digital Business'.

Commenting on today's announcement, Sir David Arculus, Chairman of Aldermore, said: "I am delighted that David has agreed to join the Board. He brings an invaluable depth of experience of digital business at a time when the bank is looking to improve its digital offering still further."

David Soskin commented: "I am pleased to be joining Aldermore at this exciting time of expansion and look forward to working with Phillip Monks and his team in developing the future direction of the business, especially its digital strategy. Aldermore's business model is well suited to the digital age."

ENDS

About Aldermore

With backing provided by AnaCap, Morgan Stanley Alternative Investment Partners, Goldman Sachs Asset Management, Honeywell Capital Management and the Ohio Public Employees Retirement System, Aldermore raises deposits from consumers and is dedicated to responsibly lending that money to UK homeowners and small and medium sized businesses.

Aldermore's total balance sheet assets currently stand at £1.7 billion and this is growing at approximately £70 million per month. The bank's balance sheet is projected to close 2012 with assets of £2.5 billion.

Since 2009, Aldermore has lent £771 million to over 9,000 SMEs. It funded £1.6 billion of client invoices through its invoice finance business in 2011.

Aldermore has made available to over 4,000 people loans for residential mortgages, totalling £526 million. It was the first bank to reintroduce the 100% loan-to-value (LTV) mortgage, helping first time buyers with a guarantee from a family member to get a foot on the housing ladder.

Aldermore has retail deposits of £1.45 billion and over 60,000 account holders. The bank broke even in June 2011 after only two years of trading, two months earlier than planned.

ENDS

Contacts:

Aldermore

Lise Bulloch
0161 238 5005
07773 324908
Ingerlise.bulloch@aldermore.co.uk

Maitland

Sam Turvey
Andrea Coleman
Duncan Browne
020 7379 5151

Aldermore appoints John Dodsworth and transforms its Southern Regional SME office network

Tue, 17 Apr 2012 00:00:00 GMT

Aldermore, the new British Bank, has announced the opening of three new invoice finance offices as part of its ambitious expansion plans and has appointed John Dodsworth as Regional Managing Director to oversee two of the new offices.

This development will see Aldermore's regional office network expand to 9, all of which are dedicated to supporting small and medium sized businesses. The newly designated offices are to be opened in:

- Peterborough - serving the East Midlands

- Bristol - serving the south west

- Twickenham - serving the north and west of London and the M4 corridor.

Aldermore's accelerated growth over the last two years has driven the requirement to open the new offices, to ensure localised delivery of service to SME's in the regions.

Ian Wilkins, Group Managing Director of Commercial Finance, said: "Aldermore is committed to supporting British SMEs throughout the country and we believe it's important to have regional representation in those areas in which our clients' businesses are based.

John Dodsworth reports to Managing Director, Damon Walford and will be based in Aldermore's new Twickenham office. John will be responsible for a team of financial professionals based in Twickenham, Maidstone and Bristol, who will provide small and medium sized businesses with a range of financial services.

John has more than 14 years financial services experience and joins Aldermore from Royal Bank of Scotland Invoice Finance where he was Head of Strategic Development. Whilst at RBSIF, John also held positions as Regional Sales Director for London and the South and as an Associate Director with responsibility for Business Development.

John Dodsworth said: "I'm delighted to be taking responsibility for Aldermore's invoice finance operation in London and the South. Aldermore has very quickly built an enviable reputation as one of the UK's most dynamic young banks and I'm looking forward to helping strengthen the bank's proposition to small and medium sized businesses.

"Aldermore's new offices will become regional business growth centres and allow us to be closer to our clients and take advantage of the pool of talented people living in those areas. It's a hugely exciting time! "

Damon Walford, Managing Director of Aldermore Invoice Finance, said: "John brings with him considerable experience gained in the invoice finance market, which means he'll be able to make an immediate impact in this important region for Aldermore. I would like to wish John every success for the future."

Further information about the full range of products and services available from Aldermore Invoice Finance can be obtained at www.aldermore.co.uk or by phoning 0800 021 7040.

**ends**

For further information journalists can contact:

Josh Cooper, PR consultant office: 01654 791385

josh@cooper-consultants.co.uk mobile: 07768 355265

Notes to Editors

About Aldermore

Aldermore markets its lending products via professional financial advisers and specialist commercial finance brokers located throughout England and Wales.

About AnaCap Financial Partners

Aldermore wins ‘best service’ buy-to-let award

Fri, 30 Mar 2012 00:00:00 GMT

Aldermore scooped the top award for delivering the 'Best Service from a Buy-to-Let Mortgage Provider' at the annual Business Moneyfacts Awards, held at the Lancaster Hotel in London yesterday evening.

Aldermore was chosen as the best service provider because of the excellent support provided to intermediaries by both its commercial and residential mortgage businesses. Rob Lankey, Managing Director of Aldermore Commercial Mortgages, collected the award on behalf of the bank.

Lankey said: "This award was particularly gratifying to win, because the mortgage division of Aldermore has placed great emphasis on service delivery over the past year. The mortgage experts in both our residential and commercial mortgage businesses can be justifiably proud and Charles Haresnape, MD of Residential Lending, and myself would like to thank them all for their hard work over the past year.

"Aldermore is unique in providing a buy-to-let service that spans both residential and commercial mortgages and which can cater for the needs of almost any borrower, be they an investor buying a single rental property, or a professional landlord with a large buy-to-let portfolio. We've made a significant investment in new technology and staff development to ensure our service is leading-edge and this award recongnises the focus we've placed on service delivery."

Further information about the full range of mortgage products and services available from Aldermore is available at www.aldermore.co.uk or by phoning 0333 3211000.

**ends**

For further information journalists can contact:

Josh Cooper, PR consultant office: 01654 791385

josh@cooper-consultants.co.uk mobile: 07768 355265

Notes to Editors

About Aldermore

Aldermore markets its lending products via professional financial advisers and specialist commercial finance brokers located throughout England and Wales.

About AnaCap Financial Partners

Aldermore can complete commercial mortgages in as little as 5 days

Mon, 26 Mar 2012 00:00:00 GMT

Aldermore is offering to turnaround commercial mortgage applications in as little as 5 days, following the launch of a new title insurance service.

The fast-track service is possible thanks to the availability of a single premium title insurance policy, which enables cases to complete with a significantly reduced title investigation. The service will be particularly attractive to borrowers who are refinancing and applying for loans of up to £500,000.

Rob Lankey, Managing Director of Aldermore Commercial Mortgages, said: "Applicants who are refinancing and require completion to take place quickly, are sometimes frustrated by delays caused by title investigations. By using title insurance, which is a single premium policy, we can fast-track applications and complete deals in as little as 5 days.

"We cannot guarantee that title insurance can be used in every instance because of varying types of property, but we will let brokers know as soon as possible if a case is suitable for this facility.

"This is another example of ways in which Aldermore is working to find ways to make life easier for brokers and their clients."

This facility is available to brokers who are registered members of Aldermore's commercial mortgage panel. For further information, registered brokers should either contact their lending relationship manager or a commercial mortgage manager on 01733 404518.

Information about the services available from Aldermore Commercial Mortgages can be found at www.aldermore.co.uk.

**ends**

For further information journalists can contact:

Josh Cooper, PR consultant Office: 01654 791385

josh@cooper-consultants.co.uk Mobile: 07768 355265

Notes to Editors

About Aldermore

Aldermore markets its lending products via professional financial advisers and specialist commercial finance brokers located throughout England and Wales.

About AnaCap Financial Partners

UK hauliers need help if they are to fight-off foreign competition

Thu, 22 Mar 2012 00:00:00 GMT

Aldermore, the new British Bank, says that UK haulage firms need help if they are to survive against European companies that have access to significantly cheaper fuel.

According to the most recent AA fuel price report, British hauliers pay one of the highest prices for diesel in Europe, second only to Norway. Paying an average price of 142.8 pence per litre for diesel, British firms are at significant disadvantage to European competitors who pay just 125.8 pence per litre in France, 121.5 pence in Germany and 112.3 pence per litre in Spain.

Darren Cottenden, Head of Road Haulage Funding for Aldermore Invoice Finance, said: "With prices on the continent being typically between 15 and 30 pence per litre cheaper than here in the UK, its easy to see why British firms are at such a competitive disadvantage to their European counterparts.

"Business owners are doing everything within their powers to keep costs under control, but its impossible to fend-off high fuel prices, especially when there is such a disparity in pricing.

"Aldermore is doing its bit to help with the recent launch of our new fuel card, which gives haulage operators the potential to save up to 3 pence per litre on diesel over a 12-month period. It won't solve all their problems overnight, but it does enable them to start fighting back."

The Aldermore fuel card was launched in February this year and can be used in over 1900 refuelling stations across the country. The card is also combined with an invoice finance facility, meaning that firms can release cash tied-up in unpaid invoices.

Cottenden concluded: "Although it will be of little comfort to haulage operators, at least they're not competing against American transport firms who pay just 66.4 pence per litre for their diesel!"

Haulage operators can obtain further information about the Aldermore fuel card by going to www.aldermore.co.uk or by phoning 0800 021 7040.

**ends**

For further information journalists can contact:

Josh Cooper, PR consultant Office: 01654 791385

josh@cooper-consultants.co.uk Mobile: 07768 355265

Notes to Editors

About Aldermore

Aldermore markets its lending products via professional financial advisers and specialist commercial finance brokers located throughout England and Wales.

About AnaCap Financial Partners

Aldermore’s CEO on BBC News Channel

Wed, 21 Mar 2012 00:00:00 GMT

Following the launch of the National Loan Guarantee Scheme (NLGS), Aldermore's CEO, Phillip Monks talked about the Scheme's importance to the BBC's Chief Political Correspondent, Norman Smith which is helping to ease the flow of funds to SMEs.

Phillip expounded further, saying that it's not the full solution and Aldermore will keep working with the Treasury to do more and that Aldermore is the bank which is championing UK small firms "so it is right we are part of this Scheme."

Find out more about Aldermore and the National Loan Guarantee Scheme

Find out how to apply for Aldermore products backed by the National Loan Guarantee Scheme

Notes to Editors

About Aldermore

Aldermore markets its lending products via professional financial advisers and specialist commercial finance brokers located throughout England and Wales.

About AnaCap Financial Partners

Aldermore offers haulage industry opportunity to offset diesel price increase

Wed, 21 Mar 2012 00:00:00 GMT

Aldermore, the new British Bank, says that haulage firms have the opportunity to offset the 3p increase in diesel fuel in August, by buying fuel with its new fuel card.

The card, which was launched in February this year, can be used in over 1900 refuelling stations across the country and gives haulage operators the potential to save up to 3 pence per litre on diesel over a 12-month period. The card is also combined with an invoice finance facility, meaning that firms can release cash tied-up in unpaid invoices.

Darren Cottenden, Head of Road Haulage Funding for Aldermore Invoice Finance, said: "It's understandable that the haulage industry is disappointed with the Chancellor's decision to continue with the proposed diesel price increase in August. However, transport firms can still offset either part or all of the increase by purchasing their fuel using an Aldermore fuel card. Over the course of a year, this could result in up to a 3p per litre saving.

"This initiative has been designed to help ease the pressure on haulage firms' cashflow by combining the benefits of an invoice finance facility with a fuel card. The cost of fuel will be debited directly from the operators finance facility and they will benefit from up to 14 days free credit on all their fuel purchases.

"The facility is available to any size of firm, which will receive support from a dedicated haulage industry finance expert based in one of our regional offices. The combination of invoice finance and a fuel card is unique in the UK and we anticipate significant interest from transport operators."

Haulage operators can obtain further information by going to www.aldermore.co.uk or by phoning 0800 021 7040.

**ends**

For further information journalists can contact:

Josh Cooper, PR consultant Office: 01654 791385

josh@cooper-consultants.co.uk Mobile: 07768 355265

Notes to Editors

About Aldermore

Aldermore markets its lending products via professional financial advisers and specialist commercial finance brokers located throughout England and Wales.

About AnaCap Financial Partners