Gee joins after a 26-year career at Close Brothers, where he most recently served as chief executive of the group’s industrial equipment division. He will lead the development of a vendor finance proposition working with equipment dealers and manufacturers to provide funding solutions for SME customers.
The new business, based in the North West and operating nationwide, will focus on sectors including manufacturing, construction, transport, materials handling and print.
Nathan Mollett, managing director of asset finance at UTB, said: “Steve is one of the most experienced and respected people in UK asset finance, and we’re delighted that he has chosen to join UTB at such an exciting stage in our development.”
The appointment follows a period of growth for UTB’s asset finance division, including the soft launch of Stance Asset Finance, which is due to be rolled out nationally later this year. Stance was introduced to provide brokers and SMEs with an additional funding option for transactions falling outside UTB’s core lending criteria.
Mollett said the lender had built “tremendous momentum” across its asset finance business and that Gee’s arrival would help broaden its offering.
Episode 1: First-time buyers : Powered by Partnership podcast from Newcastle for Intermediaries
Sponsored by Newcastle for Intermediaries
He added: “Steve’s appointment adds another important dimension to our growth plans by enabling us to build a dedicated vendor finance capability around equipment dealers and manufacturers. His experience, relationships and deep understanding of the industrial equipment market will be invaluable.”
Gee (pictured) said the opportunity to establish a new vendor finance operation was a key factor in joining the bank.
He continued: “I’ve spent most of my career working with businesses who invest in equipment to improve productivity, increase capacity and create growth, so the opportunity to build a new vendor finance business at UTB was too good to miss.”
He added that the new venture would help more SMEs access funding for equipment and technology investments.
Gee said: “Ultimately, this is about helping more SMEs get access to the assets they need to invest, grow and thrive.”
