A business finance firm has opened its doors in the North East after making a strategic appointment.
PMD Business Finance, a Greater Manchester-based firm that brokers more than £150m of lending each year, has moved into the region after hiring Cole O'Malley to lead its North East base.
Mr O'Malley joins the company as a business development director after amassing more than 20 years experience in the finance industry, including senior roles at RBS Group. He will be supported by business development manager Zak German.
.Commenting on moving to PMD, Mr O'Malley said: “It’s been clear for some time that SMEs are placing more emphasis on the value independent finance brokers can offer in providing flexible finance options. For many, the alternative finance space, through brokers, has displaced the banks and become the mainstream source of funding.
“Being the largest independent in the 海角视频 provides us with the opportunity to review the whole finance market for our clients, ensuring we secure the best solution while providing industry-leading service. Other brokers just don’t have access to the diverse array of funding lines we have.
“I’m thrilled to have been given the opportunity to lead PMD’s continued expansion in the North East market with the aim of building strong and lasting relationships with the region’s professional community, SMEs, and plant, machinery and asset suppliers.”
PMD was founded in Oldham in 2010. The company has 43 staff and is mainly focused on the SME sector.
Earlier this year the business was acquired by its management team, which consists of Tom Brown, Lee Schofield and Rob Dermody.
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Tom Brown, director of PMD Business Finance, said: “The North East has been a growing market for us over the past few years and we’re pleased to have secured somebody with Cole’s professionalism, stature and contacts in the region to head up our operations.
“As the largest independent finance intermediary in the 海角视频, our aim is to use our infrastructure to provide SMEs and the North East professional community with fast, flexible and competitive finance solutions.”