TFG Capital hires bridging veteran Andy Reid
By Lucy Harley-McKeown -
Financing stalwart Andy Reid has joined TFG Capital Ltd, in a move that the firm hopes will help the business consolidate its position nationally with specific focus on increasing brand and proposition awareness in the South of England.
Hot off the back of a stint as head of sales at Market Financial Solutions (MFS), Reid has decades in the game.
Before MFS, he was Sales Director and developed the bridging business at Oblix Capital, having spent two years at Hampshire Trust Bank prior to that.
From 2007 to 2016, Reid was in residence as national key account and relationship manager at Interbay Funding.
TFG, which stands for ‘The Funding Gap’, lends throughout the UK, including Scotland and Ireland, and has been trading for over six years.
The firm is a niche lender, whose primary focus when appraising an application is the value of the security offered and not credit history, financials or proof of exit. Loans are offered from £50,000 to £4,000,000.
It has ambitious targets to double its loan book in 2021 and will be continuing to grow its sales and operation teams accordingly – Reid is key to this plan.
“As soon as TFG contacted me about the role I knew it was exactly what I was looking for,” says Reid. “It’s given me the freedom to look at expanding the team and to get the brand out to untapped areas utilising my vast broker relationships.”
“It’s a great opportunity with great people, so the move wasn’t a difficult decision.”
Having joined in February, Reid is already looking at hiring. He has solid experience of growing teams, having rebuilt Interbay’s lending proposition after the Global Financial Crisis in 2008.
He was also involved with the new specialist division during his time at Hampshire Trust, meaning he has experience of fostering growth in new areas.
TFG is hoping to capitalise on the momentum of the uptick in deals at the end of 2020 and beginning of 2021. February has been the business’s busiest month ever for both completions and enquiries.
“He’s key to helping grow our book and profile,” says James Mortimore, TFG managing director.
“We certainly haven’t yet been shouting from the rooftops in the South, and Andy will help enormously with that.”
“He’s been in the industry for 30 years and headed up sales teams at large firms. He’s very well-known and well-respected and will help to drive TFG forward,” Mortimore concludes.