UTB appoints Julian Mellors as head of block and wholesale funding

In the newly created role, Mellors will focus on developing the bank’s new block discounting and wholesale funding business. This is part of its strategy to differentiate its product, service and flexibility. The new proposition will be launched to market next year. 

Mellor will report to Nathan Mollet, head of asset finance. 

He has worked in the asset finance sector for over 30 years, holding senior positions at lenders including Wesleyan Bank, BNP Paribas, Leasing Solutions and Syscap. 

While at Wesleyan, he helped to establish its block discounting business in 2020 and oversaw its wholesale finance, credit, financial crime and collections functions. Block discounting is a form of credit available to auto dealers allowing them to raise funds against future income. 

UTB: ‘Experience of block discounting invaluable’

Mellors said: “I’m very pleased to be given the opportunity to introduce wholesale funding activities to UTB. Block discounting will be the first of what will hopefully become a suite of offerings in the wholesale lending space.  

“UTB’s courage to develop at this challenging economic juncture is reflective of UTB’s enterprising culture, firmly rooted in intelligent risk management.”   

Mollett added: “Julian is a hugely experienced commercial finance professional and it’s great to have someone with his credentials and breadth of knowledge across lending, risk and compliance join the business. He is a strong and welcome addition to the senior leadership team and the experience he gained when setting up Wesleyan’s block discounting offering will be invaluable as we aim to differentiate ourselves in the market rather than simply blend in. 

“2022 has so far been another busy and record-breaking year for UTB’s asset finance business. This is an exciting time at UTB, and, despite some economic uncertainty, we are very well placed to support our broker partners and their clients and continue to provide the funding they need to invest and grow. This intention to move into the block and wholesale funding market once again demonstrates our ambition to develop and diversify our business and underlines our commitment to being a long-term player in the business finance sector.”