Commercial finance lender Fifo Capital is continuing to grow its broker network by expanding its business development team.
Sam Henley (pictured) has been appointed senior BDM – brokers and distribution at Fifo Capital.
Henley has 15 years’ experience in the Australian finance industry and is considered an expert in both retail and business banking sectors.
Moving from within the Australian finance sector, Henley has worked for leading financiers including GE Capital, Wells Fargo CFD (Inventory Finance) as senior credit analyst and then sales manager.
Over the past three years he worked in Bank of Melbourne’s business acquisition team.
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Henley said he was particularly excited by the payables and cash flow finance category and Fifo Capital’s unique blend of solutions.
“Payables finance remains as one of the best kept secrets in the finance sector with the demand in Australia growing year-on-year,” Henley said.
Henley’s appointment comes as Fifo Capital further improves its capability and scale following an investment by Melbourne-based finance and investment house Wingate.
Last year, Wingate took on an equity interest in the company and committed to offer more than $2bn to Fifo Capital’s Australian SME and corporate clients.
Fifo Capital CEO Wayne Morris said Henley was a high-achieving commercial finance manager with a broad skill base.
“Sam is a fantastic addition to the Fifo Capital broker support and distribution team,” Morris said.
“It’s an exciting time at Fifo Capital as our unique blend of working capital and cash flow finance products continue to fuel the business finance market. Having Sam onboard boosts our team further to support the growing demand of our financial products as we expand our business to support more SMEs.”
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Morris said with recent statistics showing 56% of SMEs were facing cash flow pressure and 80% of SMEs experiencing increased delays and costs in doing business, it was a great time for Henley to join Fifo Capital.
“We are looking to provide more critical funding to Australian businesses helping them to expand and reach their full potential,” he said.
The new appointment now brings Fifo Capital’s corporate advisory team to four people, reporting to sales director Mark Occhiuto, bolstering its national sales team to more than 55 business specialists supporting Australian SMEs.
