The lender said this appointment followed a “transformational year” for the sales team, which regularly saw them exceeding new business records and setting highs for the loan book at both group and product levels. 

Speed has over 20 years’ experience in commercial finance having previously worked at Time Finance and Nucleus Commercial Finance as a business development manager for both lenders. 

He will work alongside his brother Matthew Speed who has been at the lender for a decade and is currently senior regional director. 

Phillip Speed (pictured) said: “I am delighted to be joining Ultimate Finance as they enter their 20th anniversary year. They have always had a strong reputation in the market for their forward-thinking approach to business finance with a genuine desire to provide tailored funding solutions. 

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“Working alongside my brother Matt I am looking forward to delivering the high level of personal service to both clients and introducers that the Speed brothers and Ultimate Finance are well known for.” 

Nick Haggitt, sales director for the South and Midlands at Ultimate Finance, added: “Phillip is a fantastic addition to the sales team and his expertise together with his experience with the local network offers us a real foothold into the region and the opportunity to deliver even more working capital solutions and truly become the funding partner of choice.”