Craig is responsible for delivery of the Bank's invoice finance business in Bristol and the South West region reporting to South & South West Regional Managing Director, John Dodsworth. Invoice finance unlocks cash tied up in the unpaid invoices of a business, to release valuable working capital.
Craig Stitch said: "I am genuinely excited by Aldermore's ambitious growth plans and I'm delighted to be joining at such an interesting time in their development. The Bank has made its mark over the past couple of years as the new British bank that's providing a high level of service to SMEs. I'm looking forward to working with businesses across the South West region to help them find suitable solutions to their future funding needs."
John Dodsworth, South & South West Regional Managing Director at Aldermore, said: "I would like to welcome Craig to Aldermore. It's great to have someone on board with his considerable experience both of the banking industry and the South West region and I would like to wish him well for the future."
Aldermore's strong balance sheet, complied with a local team, means it is able to react quickly and positively to the funding needs of businesses throughout the region. Whereas traditional high street banks have legacy issues to contend with and often depend on a head office decision, Aldermore's 'can-do' attitude enables it to take a flexible approach to lending to enterprises throughout all stages of the business life cycle.
Aldermore's ambitious expansion plans have taken the Bank's national spread to eleven offices. The Bristol office is one of its most recent openings and provides a range of financial services to small and medium-sized businesses across the South West.
Prior to joining Aldermore, Craig developed his financial services career with Barclays Bank as a Business Development Manager covering the South of England Region. He then moved on to Ultimate Finance PLC as a Regional Director in 2010.
Information about the services available from Aldermore Invoice Finance can be found at www.aldermore.co.uk.
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Notes to Editors
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.
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 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.