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Lloyds Bank Global Transaction Banking team appoints new South East area director

Lloyds Bank Global Transaction Banking team appoints new South East area director

Lloyds Bank has strengthened its support for businesses across the Home Counties with the appointment of a new area director within its Global Transaction Banking team.

Stephen Hand has been promoted to area director covering Hertfordshire, Bedfordshire and Essex, leading a six-strong team of Invoice Finance specialists.

In his new role, Stephen will support businesses with a turnover of up to £25m, to help with their working capital requirements along with a specific focus in Invoice Finance, a funding option that can help firms to access working capital tied up in unpaid invoices.

Stephen will also work closely with specialist Commercial Banking teams to support businesses in all industries, along with dedicated relationship managers in both manufacturing and agriculture to provide a streamlined, efficient and committed approach to both existing and prospective customers’ needs.

Having first begun his career at Lloyds in 2003, Stephen has worked in a range of roles including senior manager as part of Lloyds Bank Commercial Banking, before joining the Global Transaction Banking team in 2014.

Stephen said: “We are seeing a significant rise in demand for Invoice Finance amongst firms across the home counties, particularly in a number of the area’s key sectors including recruitment, wholesale and manufacturing.

“Research carried out by Lloyds Bank last year found businesses in the UK were owed £291 billion in unpaid invoices, and invoice finance in particular is becoming more popular among companies that recognise it as a cost-effective means of releasing cash from these outstanding bills.

“As a bank, we are committed to providing support to firms across the area through working capital solutions and this is clearly an exciting time to get to know local businesses and help them to meet their ambitions.”

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