Ex-Close Brothers MD launches new lender
Renaissance Asset Finance are specialists in finance, leasing and refinance.
Renaissance Asset Finance is a new company established by Hugh Sigrist. Formerly one of the founders of the very successful Essex-based Brokerage, Reliance Financial Contracts (RFC), that Hugh founded in 1991. This business was sold to Close Brothers in 2008, where Hugh spent just under six years developing an outstanding lending portfolio.
The business specialises in dealing with well-established SMEs and HNWI’s. The main source of this business will be from the UK’s Premier Asset Finance Brokers.
After spending 30 years in the asset finance sector, Hugh wants Renaissance to become the ultimate lending business, in which he will combine his vast knowledge, experience and success.
In terms of experience, Renaissance are fairly unique: Having been a well-respected broker for 17 years, they then went on to be a lender for a further six years, developing a lending portfolio of just under £70 million, largely on the back of broker introductions. Now, they are lending again through the broker market.
‘Know your customer’ is at the heart of everything Renaissance do, where it is always visiting the customer with the broker. This enables Renaissance to fully understand the customer’s business and find them the best financial solution. It often also leads to Renaissance being able to set larger lines of credit, which generates more income for the introducing broker.
Renaissance fund: Wheeled assets including; executive, specialist and vintage cars, commercial vehicles, coaches, mini buses and taxis, plant and machinery, hire fleets, commercial audio visual equipment, agricultural goods and business critical soft assets.
Refinance and sale and leaseback: This is one of our specialist areas of expertise where we release capital businesses have tied up in goods they already own for a whole host of other funding requirements.
Best funding lines: After the 2008 banking crisis it was paramount to have access to wholesale funding lines. The main funding partner is BLME (Bank of London and the Middle East), who provided Renaissance with an initial line of £35 million. Hugh was delighted to have been introduced to Fred Yue, Director and Head of Leasing at BLME, who whilst established in the middle ticket sector, were keen to become more involved in the SME market. Hugh was impressed with their likeminded, entrepreneurial approach and saw a great deal of synergy with his own outlook.
Having been a broker for so many years as well as a lender, Hugh is confident that Renaissance will be able to provide the best solutions for the broker markets funding requirements. Who better than a broker to understand a broker’s needs?
Having been a broker himself, means there is a lot of mutual respect and synergy between him and his brokers.
As well as its basis principle of ‘know your customer’, honesty and integrity is another core belief and something it is known for throughout the broker market. It never re-solicits its broker’s customers and always keeps the broker fully informed of any direct approach it may receive from one of its customers who they originally introduced to it. Renaissance are all about the long term and customer retention.
Please contact us on firstname.lastname@example.org or call us on 01277-725253.
By Hugh Sigrist, Managing Director of Renaissance