BFS appoints trade & international MD

BFS appoints trade & international MD

Bibby Financial Services (BFS) has appointed Phil Tobin as managing director of trade and international.

The move comes as the international SME funder looks to expand its focus on export and trade finance in 2017.

With 24 years’ experience in the invoice finance sector, prior to his appointment, Tobin the role of head of operations for BFS’s construction finance team. Prior to joining BFS, He held a variety of roles at Lloyds Bank Commercial Finance, including senior client manager and area director.

Tobin said: “There is a lot of uncertainty for UK SMEs in the current climate following the vote to leave the EU. Businesses that are exporting have seen increases in sales as buyers see better value. Importers, however, have been hit by rising costs. SMEs are looking for support and greater certainty when they are trading overseas which we are able to provide.

“I’m delighted with this new opportunity and look forward to continuing to help our clients navigate through Brexit and enter overseas markets.”

BFS is the UK’s largest independent invoice finance provider, supporting more than 7,000 businesses in 300 industry sectors. In 2016, the funder launched its foreign exchange division, enabling its clients to transact in multiple currencies.

Tobin added: “We have extensive knowledge of overseas markets through our existing export and trade finance capability. This – coupled with our international presence -presents us with a significant opportunity to support SMEs trading in markets across the world.

“The ability to combine trade and export finance with language support and foreign exchange services in this way is something other non-bank funders are simply unable to do. This provides us with a real advantage over other providers in the market.”

David Postings, global chief executive, said: “We’re delighted to appoint Phil to managing director for trade and international. Enabling businesses to import and export with confidence is a key part of our growth strategy and I’m confident that we’ll be able to grow our support for SMEs further under Phil’s leadership.”