Where UK asset finance headcount is growing in 2026

The UK Asset Finance market exceeded £40 billion in new business in 2025, marking a fifth consecutive year of growth according to FLA data. That sustained volume, combined with accelerating digital transformation across the sector, is driving a clear shift in where headcount is being added, and which functions are growing fastest.

The market context

Growth in 2025 was not uniform. Plant and machinery finance recorded 21% growth in December 2025 year-on-year, and SME lending reached a record £24 billion across the full year. Equipment Finance and business new car finance both showed consistent positive momentum through the second half of 2025. Commercial vehicle finance, by contrast, contracted.

The hiring picture follows a similar pattern. Functions connected to growth asset classes – equipment, plant and machinery, and SME lending – are seeing stronger demand for operational, credit, and technology talent than those tied to commercial vehicles or larger corporate deals, where volumes have been softer.

Where headcount is growing by function

Technology and transformation

This is the fastest growing functional area across the sector. KPMG’s UK Financial Services Sentiment Survey for 2026 found that 55% of financial services firms plan to increase headcount this year, with 52% of those directing hiring towards technology roles. AI capability is the leading hiring priority, identified by 44% of firms. In Asset Finance specifically, this translates to demand for implementation consultants, solution architects, business analysts, and programme managers – roles that connect platform knowledge with lender domain expertise.

Risk and compliance

Legal and compliance hiring intentions across UK financial services jumped from 26% to 42% between the second half of 2025 and early 2026, according to Robert Half’s hiring intentions data. In Asset Finance, this is driven by the FCA’s continued focus on Consumer Duty, model risk management, and the increasing regulatory scrutiny of AI-assisted decisioning. Risk and compliance headcount is growing in both permanent and contract form, as firms seek flexibility to meet evolving regulatory requirements without permanently expanding their cost base.

Credit and underwriting

Headcount in credit functions is not contracting, but it is changing shape. As AI-assisted underwriting tools are adopted, the profile of the credit hire is shifting away from high-volume manual processing towards roles requiring model literacy, data validation, and governance awareness. 

SME-facing commercial and operations roles

The FLA’s record £24 billion in SME lending in 2025, up 4% year-on-year, is driving demand in the functions that support smaller ticket lending at volume: new business processing, broker relationship management, customer operations, and collections. Lenders with strong SME propositions are investing in the operational infrastructure to sustain that growth.

Platform and vendor-side hiring

Outside of lenders, software vendors and system integrators supplying the sector are also expanding. The KPMG survey confirms that platform replacement and AI integration programmes are active across the market. Vendors are hiring client-facing implementation and customer success professionals with Asset Finance domain knowledge. A profile that remains scarce and commands a premium.

The functions facing headcount pressure

Not all functions are growing. Customer operations roles tied to higher-volume, lower-complexity processing are under sustained pressure as automation reduces manual workload. Commercial vehicle finance, which saw a 3% fall in new business in 2025 overall and a 15% fall in January 2026, is not generating the same hiring momentum as equipment or SME lending.

What this means for hiring strategy

The functional growth picture in 2026 is consistent: technology, risk and compliance, and SME-facing roles are where demand is strongest. For lenders building hiring plans, the implication is to move early on technology and transformation roles, where competition is fiercest and notice periods are longest, and to review credit function hiring briefs to reflect the changing skills profile those roles now require.

For software vendors and system integrators, the priority is domain-fluent implementation talent. The market is active, candidates with the right combination of platform and sector knowledge are scarce. The firms that build strong talent pipelines ahead of programme demand will outperform those that hire reactively.