Adrian Taylor joins Abbey National Business to head its Cash Flow Finance at a time when the bank is attempting to boost its position in the factoring and invoice discounting market and targeting small businesses.
Taylor, who will lead a team of 70, will be responsible for increasing customers and revenue. "The number of small businesses using invoice discounting for funding has grown by 26 per cent over the past year," says Gary Hockey-Morley, director of Abbey National Business.
He adds that "many small businesses wait until it's too late before seeking out alternative funding".
Part of Taylor's role will be to let businesses that have funding difficulties know about finance options.
Taylor was previously head of risk at Abbey National Business and before that worked at First National's commercial bank, where he focused on loans and recoveries.
Source: Financial Times
