Bibby Financial Services (BFS) appointed Ian Watson as chief executive officer of its North America business. Watson previously served for more than six years as the CEO of Bibby Asia Pacific.

During that time, he led the expansion of the company’s regional presence from Australia and India to  include New Zealand, Hong Kong, Singapore and Malaysia. As a result of these new ventures and Watson’s leadership, Asia Pacific became a significant contributor to the BFS group profile. Prior to joining BFS, Watson was an executive director for GMAC Commercial Finance in the UK.

“We already have a well-established business and a great team in North America on which to build and grow our factoring and asset-based lending platforms,” said Watson. “I am excited about the opportunity to lead our North American team into a new phase of growth and development across the region.”

Bibby secured more than $35.5 million in financial solutions for 96 new clients in the first half of 2016. Eight of the year’s most notable transactions include:

  • $7 million factoring facility to a New York-based security staffing service
  • $3 million revolving line of credit (ABL) to an Oklahoma City-based processor of quality-grade steaks and meats
  • $3 million revolving line of credit (ABL) to a Florida-based service provider in the petroleum industry
  • $2.5 million factoring facility to a California-based media service company
  • $1.75 million revolving line of credit (ABL) to a California-based manufacturer of coffee products
  • $1 million revolving line of credit (ABL) to a Florida-based merchandising services company
  • $900,000 factoring facility to an Ontario-based manufacturer of security equipment
  • $850,000 factoring facility to an Alberta-based distributor of chemicals to the oil and gas industry

“The first half of the year was strong, and we continue to see movement and growth in both our factoring and asset-based lending portfolios,” Watson said. “We look forward to developing long-lasting relationships with these new clients and continuing to meet their specific business needs with our suite of flexible funding solutions.”