Bibby opens new office as it looks to grow in Wales

SME funder Bibby Financial Services is opening a new office in Wales.

The independent funder supports more than 10,000 businesses worldwide and has 18 offices throughout the UK. With ambitions to grow its client-base throughout Wales, the business has opened a new office at One Caspian Point, Cardiff Bay.

Mike Freebury, who joined the company in 2011, has been appointed as head of sales for the new team, extending the funder’s reach into the business community in Wales.

Freebury said: “We are all very excited about BFS’s strengthened presence in Wales. We have always operated in the country, but having a dedicated office in Cardiff will extend our reach to both the local adviser base and the businesses we support, giving them confidence that we can support them locally.”

Freebury and his team will support businesses with BFS’s funding solutions, including Invoice Finance, Leasing, Trade and Export Finance, FX and specialist finance solutions for the construction and recruitment sectors.

According to BFS’s SME Confidence Tracker report, SMEs in Wales are showing positive signs, despite wider uncertainty surrounding the UK’s place within the EU. Over a quarter (27%) of Welsh SMEs expect their sales to increase over the next three months and more than a third (34%) say they plan to invest in staff over the coming weeks.

Edward Winterton, commercial director at BFS, said: “Many Welsh businesses are telling us that they’re looking to invest in staff recruitment and training, despite wider concerns surrounding rising costs and Brexit.

“With our new team in place, we want to react quickly to offer funding support, enabling them to grow. Following Mike’s appointment and the opening of our new office, I have every confidence that we will be able to significantly boost our support for SMEs in Wales.”

Joining BFS in 2011, Freebury has 23 years’ experience in financial services, 16 of which dedicated to invoice financing.

Freebury added: “I’ve gained huge amounts of experience over the last six years through building a successful brand for BFS within the South West of England and Wales. I am now really looking forward to leading a team based in Wales, that will enhance our reputation of providing leading cashflow solutions and excellent customer services to businesses looking to grow.”

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Ryan Fowler is the editor of Specialist Finance Introducer