Secure Trust Bank Commercial Finance (STB CF), the asset-based lending (ABL) arm of Secure Trust Bank, has launched a dedicated Speciality Finance division targeting UK non-bank specialist lenders.
Headed up by newly appointed Mike Knox, the division will focus on providing funding solutions to established specialist lenders operating in real estate finance, SME finance and consumer finance sectors.
Mike, who joined the STB CF team earlier this year, comes with over 20 years' experience in finance, spanning real estate, restructuring and financial institutions. He joined from Cynergy Bank where he set up its speciality finance offering.
Mike Knox, Head of Speciality Finance at Secure Trust Bank Commercial Finance, said: "The specialist lending market has really matured over recent years, with a number of well-established lenders with strong origination capability and proven credit performance creating a multi-billion pound market. However, many of these lenders are either over-reliant on a single funding line, operating facilities that don't fit their collateral, or are leaving growth on the table. This is where the opportunity lies for us to provide a more tailored solution for specialist lenders, becoming a true capital partner."
Key to the expansion of the Speciality Finance offering will be building out a full team by the end of the year, which will be sized to develop long-term relationships with clients, as opposed to prioritising volume.
The recent appointment of Talal Malghani as Head of Credit is central to this approach. Talal joins from ThinCats, where he was Senior Director, Capital Markets, playing a key role in the firm's growth and its eventual sale to Shawbrook. Prior to this, he held roles at NatWest, building strong experience across structured finance and speciality lending advisory.
In his new role, Talal will lead on credit and underwriting for Speciality Finance, helping to establish robust processes and scale the division as the team builds its presence in the market.
Talal Malghani, Head of Credit, Speciality Finance at Secure Trust Bank Commercial Finance, said: "Given STB's reputation as a highly respected specialist and well-capitalised bank, this provides the perfect platform for us to support speciality lenders across multiple asset classes with their growth aspirations."
The launch of Speciality Finance builds solid foundations already created by the STB CF team. This includes providing a £30m facility for Promarine Finance, a specialist in marine mortgages, along with a £10m facility for PayItMonthly, a platform for businesses to offer flexible financing for their customers. Following an initial facility in 2021, the team also provided a £25m facility increase for Bumper, a car repair finance platform, bringing total facilities to £60m.
Mike added: "Secure Trust Bank sits in the sweet spot for specialist lenders in this market. We're not as big and restrictive as larger banks, but we still have the institutional capital and process discipline needed to bring the scale and long-term commitment needed by specialist lenders. It's an area we've already built credibility in, and this is the next step in building an enduring presence in the market."