Vantage eyes alternative asset-backed markets in expansion bid

by: Heather Greig-Smith
  • 13/12/2016
  • 0
Vantage eyes alternative asset-backed markets in expansion bid
Vantage Finance is poised to move into new markets after taking private equity investment and expanding its senior team.

Managing director Lucy Hodge (pictured) said a key reason for the firm’s deal with Chiltern Capital in May was the influx of expertise and the opportunity to deepen the senior management team. Now the master broker is also looking at adjacent asset-backed markets that cater to the same client base.

“We had a well-capitalised balance sheet. It was more about the experience that the private equity firm brings. They have worked in businesses and on businesses like this before,” she said.

“There’s a big focus on the core business: we want to make sure that we are improving what we do already.”

She added: “We would be naïve to think that the buy-to-let market isn’t facing challenges. Over the next 12 months we’ll be looking at similar but adjacent markets in asset-backed lending.”

Hodge said improving the business’s traction in the commercial space was another area of focus.

“There is a huge opportunity in commercial because it’s underserved. There has been a trend of people going to their bank rather than their broker but that’s changing,” she said.

The company is also looking further afield geographically, and is recruiting a team member for the Midlands.

This follows the addition of three senior management team members since the Chiltern deal. Vantage has appointed ex-CEO of Fitch Learning James Hussey as finance director and Tesco Bank head of insurance Jon Daniels as sales director. David Barral, the ex-CEO of Aviva’s Life business has also become chairman.

“Over the course of the next year we will be taking on more advisers and sales people,” said Hodge.

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