ABFA Appoint New Chairman

ABFA represent factoring and invoice discounting providers across the UK

The Asset Based Finance Association (ABFA) has announced the appointment of its new chairman, John Bevan, head of Trade and Working Capital UK & Ireland at Barclays Corporate.

John has worked in the invoice finance industry for the past 16 years and been at Barclays Corporate since 2007 where he is responsible for growing the trade and working capital product offering along with providing continued value added support for Barclays Corporate clients. Prior to joining Barclays, he was managing director of Euro Sales Finance UK, the external division of Royal Bank of Scotland's invoice discounting business.

Commenting on his election as chairman of the ABFA, John said: "It's a real honour to become the new chairman of the ABFA at this important time for the industry. With the wider economy still subdued, companies using invoice finance have seen a massive 21% increase in turnover over the past year. Now is a vital time to get the message out to SMEs and larger businesses that there is finance available and, more importantly, this type of funding is both better for firms and an efficient way for lenders to increase liquidity in the market."

John Bevan takes over the chairmanship from Steve Box, managing director of HSBC Invoice Finance.

Kate Sharp, chief executive officer of the ABFA, said: "It's great to have John as the new chairman of the ABFA. He's worked with us for several years and is one of the most respected leaders in the industry."