RBS Invoice Finance is pleased to announce the appointment of Melinda Purdy as Head of Asset Based Lending (ABL) for the UK.
Melinda has worked for the bank for 18 years and has extensive experience working in structured finance and financial sponsor-led deal activity. She has worked with a wide range of customers across the UK, providing lending support to corporates and Plcs.
Melinda will lead RBS Invoice Finance's Asset Based Lending UK division – which employs over 80 people and is constantly growing – and is responsible for deal origination, underwriting and portfolio management. She will manage the division's four Regional Heads and their teams across Scotland, North, South and the Midlands.
Melinda Purdy, Head of ABL UK said:
"I am looking forward to demonstrating the benefits of ABL, as the ABL product has moved on since the days when it was solely seen as lender of last resort, and I am looking forward to demonstrating both its benefits and how our team can differentiate from other providers. This source of funding is a great way to help the growth of new and existing clients to unlock the value of their assets through ABL.
"At Royal Bank of Scotland we have a strong appetite for structuring deals with this capital efficient product, which is demonstrated in the rising number of ABL deals completed by us. I am committed to growing our ABL order book over the coming years and educating customers and professionals on the benefits of this flexible funding structure. It's increasingly forming part of a wider debt package alongside senior lending, mezzanine loans and trade finance."
Jim Higginbotham, Head of Corporate Specialist Sales for Lombard and RBS Invoice Finance added:
"Melinda's appointment is a strong indicator of our ability and desire to support corporate customers and help them realise the benefits of using ABL. She has worked in a lending environment for many years and has some great contacts across the debt advisory community. I have no doubt Melinda will leverage her experience to the wider ABL team and achieve great success for this growing UK business."
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