Arbuthnot Latham has poached a Shawbrook managing director to run its new asset-based lending division

Arbuthnot Latham, the historic City private bank, has poached a managing director from Shawbrook Bank to run its new asset-based lending division.

Arbuthnot Commercial Asset Based Lending, which launches today headed by Tim Hawkins, will specialise in lending to small and medium-sized enterprises (SMEs) and mid-cap businesses.

Confidential invoice discounting will be its core offering, supported by lending against stock, plant and machinery, property, and cash flow.

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“By filling a gap in the SME and mid-cap lending market, our dedicated team will support businesses across the UK to realise their growth ambitions,” said Arbuthnot Latham’s chief executive Ian Henderson. He added that the new branch was just a further step in the bank’s continuing growth drive.

Hawkins was formerly managing director of the business credit division of challenger bank Shawbrook, after it acquired the firm he co-founded.

As well as private and commercial banking, Arbuthnot Latham also offers wealth planning and investment management.

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