Secure Trust Bank Business Finance appoints Nick Leitch to lead ABL offering

Secure Trust Bank Business Finance (STB BF) has appointed Nick Leitch as head of asset-based lending (ABL), as the lender looks to build on its presence in the UK mid-market.

Leitch brings more than 30 years’ financial services experience spanning consumer lending, restructuring, debt advisory, private equity, ABL and leveraged finance, with a particular focus on SMEs and mid-market businesses.

He began his career with a number of high street banks before moving to EY, where he led business development activity for restructuring. He subsequently spent a decade in private equity with Seneca Partners and Endless, working across origination, equity investment and portfolio strategy.

Leitch later spent eight years at Shawbrook Bank, where he led its ABL and leverage corporate lending operation. During his tenure, he helped develop the bank’s UK market presence and grow total facilities to £1bn.

He joins STB BF from strategic advisory and investment specialist Heligan Group, where he served as managing partner of investments.

In his new role, Leitch will focus on developing STB BF’s ABL proposition and expanding its support for mid-market companies, including businesses and sponsors seeking alternative and more diversified senior debt structures.

Nick Leitch, head of ABL at Secure Trust Bank Business Finance, said: “The STB team has built a highly regarded ABL offering, having supported a number of leading businesses right across the UK. It’s why it felt like the right fit to join as head of ABL, leveraging this reputation and team strength to help more mid-market businesses access the funding they need to grow.

“We’re increasingly seeing how ABL is moving into the mainstream, with businesses and sponsors utilising it to diversify senior debt structures and unlock deals.”

Leitch added that his experience across leveraged finance and private equity would help STB BF continue developing its proposition and working with management teams, investors and funders.

Luke Jooste, managing director at Secure Trust Bank Business Finance, said: “Nick’s wealth of knowledge and diverse experience across financial services will be essential in ensuring our ABL offering best meets the needs of businesses across the UK.

“His proven track record of growing national teams will be a core part of our continued expansion across Business Finance, providing a comprehensive service offering for businesses to access the bespoke finance they need to scale and grow.”

The appointment follows a period of growth for STB BF’s ABL business. During the past year, the team completed ten transactions with a combined value of more than £280m, including a £60m facility for Cromwell and a £10m facility for PayItMonthly.