Propel Finance, the leading UK independent asset finance lender, has appointed Paul Piggott as its new Head of Vendor Sales.
He takes up his role with immediate effect and will be tasked with accelerating the growth of Propel’s rapidly expanding vendor finance business with a focus on the underserved technology market.
Paul has over three decades of experience in asset finance and equipment leasing, with a proven track record of identifying and developing highly profitable sources of business across multiple sectors.
He joins from Macquarie where he was Head of European Sales and Marketing; in this role he initiated Macquarie’s entry into the UK Flow Vendor market and UK broker market, helping to build up the company from a small start-up in 2012 to a team providing renowned leasing capability across 33 countries worldwide and a sales organisation £400M in annual leasing originations across Europe.
Paul has also held senior executive roles at Fujitsu Financial Services, Heller Financial Inc., GE Capital and ABN AMRO Lease Plan.
Propel’s business portfolio has grown by 35% in the past year and has over 40,000 customers. The hiring of Paul reinforces the company’s aspirations to grow in the vendor finance sector.
Jon Maycock, Commercial Director at Propel said:
“Appointing Paul to lead our vendor finance business is a statement of intent. Paul is widely recognised as an innovator and disruptor in our market. This mirrors the Propel philosophy. Over the past few years, we have been assembling a team that has begun to make significant inroads into the vendor market which has previously underserved customers. We have forged partnerships which have allowed us to dramatically increase our ability to lend to SMEs all over the UK.
“Our vendor finance offering is built on our ability to offer a scalable product, underpinned by unrivalled technology, at a speed which exceeds customer expectations. Paul is the ideal candidate to build on our success to date in the vendor finance market; and I look forward to working with him to continue to meet our growth milestones.”
Paul Piggott, the new Head of Technology Vendor, at Propel said:
"I am delighted to join the Propel team. Their approach, combined with the sectoral expertise and the technology they have developed, has the potential to be a game changer in the asset finance market.
“With a pragmatic approach to lending and ability to make quick decisions, Propel is well positioned as an alternative lender to support management teams in what is still an underserved SME market. I’m thrilled to use my experience in vendor finance to help SMEs continue to thrive amidst a challenging business climate.”