Daily News: June 12, 2012

RBS Invoice Finance Appoints Haupert as Head of ABL, Syndications

RBS Invoice Finance (RBSIF) announced the appointment of Kevin Haupert as the head of a national team focused on delivering asset-based lending solutions to clients across the UK.

Haupert has extensive experience in the ABL market having worked in this field for over 14 years. He has been with RBSIF for two years in his previous role as director, Asset Based Lending. This new position as head of ABL and Syndications is a promotion and its creation reflects the growth of the ABL portfolio within RBSIF during the past three years and the commitment and appetite that RBSIF has to continue this growth.

Haupert who will be based in the bank’s 280 Bishopsgate office in London, will be leading a newly created team of seven people consisting of five relationship managers and two new business underwriters who will be concentrating on structuring, execution and management of ABL facilities to corporates and UK PLCs across the UK. The team will also work alongside colleagues across the RBS Group to ensure clients can benefit from a complete and tailored suite of funding solutions.

Haupert explained: “I am really excited about my new role and am focused on the development and management of the ABL and syndicated portfolios in RBSIF. We have witnessed the continued strong growth of ABL which has seen a recruitment drive for high calibre individuals with corporate lending experience in the past year within RBSIF Corporate and an 89% growth of ABL limits in the period from 2011 to the start of 2012. This is down to the product set and appetite that we have in place and the increasing trend towards using this flexible form of funding by UK corporates. It offers clients a funding option that means they do not have to set aside additional reserve capital for working capital but can instead utilize the strength of their company assets.”

Chris Hawes, director of Corporate at RBS Invoice Finance said: “Kevin’s appointment and the strengthening of the national team is strong indicator of our ability and desire to support corporate customers and help them realize the benefits of using ABL. It is a great way to help businesses prosper as the UK seeks to grow out of the downturn and recent stats from a report conducted by Demica highlight this. In 2011 the European invoice finance market was worth over