Nathan Mollett honoured with AFC Outstanding Achievement Award

The night was doubly victorious for United Trust Bank, which was also named AFC Asset Finance Provider of the Year, cementing its position as one of the UK’s leading forces in the asset finance space.

Recognising a decade of growth and leadership

Mollett’s career is marked by sustained commercial growth and industry transformation. He previously led the growth of Metro Bank’s asset finance division from a modest £15 million loan book to £250 million, and since joining UTB, he has grown the loan book from £100 million to over £500 million. These achievements are underpinned by his consistent presence in the AFUK50’s Top 5 Fastest Growing Lenders, featuring an impressive seven times in the last nine years.

“This recognition meant more than normal because it relates to work I’ve done over a long period of time – specifically the point about growth levels across Metro and UTB over the last 10 years,” said Mollett. “It was great to win the award, which of course is really more about the contribution of the people around me than my individual contribution.”

Under Mollett’s leadership, UTB has not only expanded its appetite for larger transactions but also launched several strategic initiatives, including a market-leading high-value car finance business, a block discounting/wholesale finance product, and the replatforming of operations to Alfa Start, a move that has enabled scalable growth.

The results speak for themselves: consistent Top 3 fastest loan book growth over the last four years; lowest impairments of any bank-owned lessor in both 2023 and 2024 (AF50 analysis); Return on Equity (ROE) exceeding 20%; and a high-performing, stable team built through targeted recruitment and investment in training.

A broader impact beyond the bottom line

Mollett’s contribution to the asset finance industry extends far beyond commercial metrics. He has been a tireless advocate for the development of future industry leaders through his work with the Leasing Foundation’s NextGen Network and the Industry Insights programme, which has supported over 80 young professionals from 29 organisations.

Reflecting on his wider legacy, he said: “I’m proud of both [commercial growth and mentorship] in equal measures. Featuring in the fast growth table for the last 9 years is great, but in truth, anyone can achieve growth if they lend at low margins. We’ve held margins and still delivered strong growth. To deliver growth combined with strong ROE takes more consideration.”

Mollett is also known for his charitable efforts, most notably raising £17,000 for Wings for Life in 2024 by completing the Marathon des Sables, a gruelling 256km ultra-marathon across the Sahara Desert in 50-degree heat. His leadership in fundraising across the industry brought in £48,000 that same year for the charity, and he continues to support causes such as Coach Core.

“If you have time to give back then you should do so,” Mollett said. “I’ve been lucky that I’ve had the time and a lot of help from the rest of the board at the Leasing Foundation to make the NextGen initiative work. The charitable stuff is easy if you find a charity that you’re passionate about.”

Looking forward

The AFC Outstanding Achievement Award is a testament to Mollett’s holistic leadership approach, balancing operational excellence with social impact. After chairing the FLA broker & intermediaries group, and the driving force behind initiatives like BPAC (broker partner advisory committee) and NextGen BPAC, Mollett continues to promote collaboration between funders, brokers, and associations for the long-term health of the asset finance industry.

With UTB continuing to innovate and lead, and with Mollett at the helm of its asset finance division, the sector can expect more from one of its most admired leaders in the years ahead.