Senior investors and bankers at Yorkshire Bank have returned to their commercial property base in Bradford, after the organisation decided to undergo a restructuring.
A new team at the West Yorkshire base will be led by Andy Davidson, and will specialise in offering services to potential customers in both the local region and the Aire Valley. The team will also include commercial manager Robert Mellor, business manager Phil Shearstone and private banking manager Keeley Leese.
Mr Davidson said: “Yorkshire Bank has stayed open for business with money to lend throughout the economic difficulties and we have appointed a dynamic and experienced team to support the communities we serve as the economy slowly recovers.
“We’re pleased to be based in newly-refurbished offices in the commercial heart of Bradford from where we look forward to forging stronger links with businesses and the local professional community.”
The team will have access to £1 billion from an expansion fund that the bank announced in 2012. This boost will be much-needed, considering that the bank lost £183 million in 2012 due to there being loan provisions and a slump in the commercial property sector.
The move has come in conjunction with the launch of a £100 million scheme by the bank that hopes to help small companies deal with late bill payments in this tough economic climate. This service will be available to both new and existing customers. Martin Rothera, head of invoice finance, added: “This £100 million fund underlines our enduring commitment to the invoice finance market.”
This news comes after various firms revealed in the past month that they were moving or decreasing office space. Apax Partners is one such company set to majorly cut back on its commercial property office space as it downsizes its business across the world.