Allica Bank strengthens asset finance team in South East and South West as demand soars

By Joy Dumasia

Allica Bank has appointed two new Business Development Managers, Alex Fowler and Tracy Millsom, to strengthen further its asset finance broker channel in the South East and South West of England.

The appointments come as the bank revealed it lent more in the first quarter of 2022 than in the entirety of 2021. And the momentum continues to grow, with it consecutively breaking its monthly lending record in January, February and March. Alongside bringing in new hires to manage the uptick in demand, Allica recently announced that it had doubled the maximum customer exposure for its asset finance to £1 million.

Alex Fowler, BDM for London and the South East, will manage all new and current broker partnerships in the region, supporting them to deliver SMEs with the funding they need to grow. Alex joins Allica with ten years’ of financial services experience, including five years in stock brokerage investments and a five-year career in asset finance.

“Allica are the most exciting bank to enter the market in years,” says Alex. “It’s a great opportunity to make a real difference in the industry and help Allica become a dominating player in the asset finance sector. Their innovative use of technology and relationship-driven banking is a breath of fresh air. The feedback I’ve had from brokers in the time I’ve had here already has been astonishing.”

Tracy Millsom, who will manage broker relationships in the South West, brings with her 30 years’ experience working in asset finance for key players in the industry, alongside being a broker herself. 

“Allica entered the market at a time when high-street banks were tightening their appetite for owner-managed UK SMEs, with many also operationally overwhelmed by the government’s covid support schemes. Having experienced record levels of demand so far this year, Allica’s doors have been – and continue to be wide open.

“From my own experience as a broker, I could see what a game-changer Allica’s proposition is. Their mix of human expertise and technology makes for an unbeatable broker experience.”

Brandon Hall, Head of Sales for Asset Finance at Allica Bank, says the team at Allica is rapidly expanding: “Each new member brings a unique skill set to the table. Alex and Tracy’s years of experience, as well as their knowledge of the asset finance industry and working with brokers, make them hugely valuable additions to our business as we continue to grow. And they’ll be hugely valuable to the brokers in their patch, too. It’s been a fantastic start to the year for Allica, and I’d like to extend my gratitude to all our broker partners for their support.”