John Jenkins will join the Board to represent specialists across the Asset Based Lending sector. Some of the other representatives include: Ashok Vaswani, CEO at Barclays UK; Ian Stuart, CEO at HSBC UK; Peter Hill, CEO at Leeds Building Society; Joe Garner, CEO at Nationwide Building Society; James Bardrick, UK CEO at Citigroup; Joanna Elson OBE, CEO at Money Advice Trust and Ron Kalifa, Vice Chairman and Executive Director at Worldpay.

John Jenkins, CEO at Amicus Finance, said: “The establishment of UK Finance will see increased representation for a range of sectors across the UK financial services industry and I am delighted to be the representative voice for the Asset Based Lending sector, a specialist area that I know well and one that is going from strength to strength. I am confident that together the Board of UK Finance will drive a positive forward looking agenda that highlights the industry’s vital contribution to making a post-Brexit UK work for consumers, SMEs and industry.”

Bob Wigley, Chair of UK Finance, said: “This high profile Board has been created to ensure that the interests of all our members are fairly represented and we really focus on the issues that not only our members but also their customers and broader society think are important. I look forward to working with the Board and Stephen Jones to enhance the development of a vibrant, diverse and competitive financial services sector in the UK which consumers value and trust.”
John Jenkins joined Amicus in 2014 to build and grow the specialist lender and lead it through the bank authorisation process. Amicus has had a strong year and it has further expanded its customer base among brokers, SMEs, professional landlords and developers seeking specialist finance solutions. As part of its growth journey, the firm has expanded its regional presence with the opening of an office in Manchester last year. Subject to authorisation, Amicus also anticipates receiving its banking licence this year which will enable it to fulfil its long term growth objectives by accessing an alternative and efficient source of funding.

Amicus has seen consistently strong funding from the Omni Secured Lending (OSL) Funds. Vintages I, II and III have provided more than £500m of institutional third-party funding to the business. During January and February 2017 alone Vintage III raised more than £200m of new institutional capital, which is being actively deployed to fund new lending activity.

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October 19, 2016: Amicus Finance, a leading specialist financial services group, announced that it has submitted a banking licence application to the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA).  Subject to authorisation it anticipates receiving its banking licence in 2017.

The new banking licence will enable Amicus to fulfil its long term growth objectives by accessing an alternative and efficient source of funding.   Amicus will convert £30m of the debt currently used to fund its lending activities into equity and this will form the capital base of the bank’s operations.

In preparation for this next step in its evolution, Amicus has strengthened its senior management team and governance structure by appointing David Fisher, Alex Shapland and Paul Stevens as non-executive directors to the Board.  David Fisher is the former CEO of Sainsbury’s Bank, Alex Shapland was previously a Partner at PricewaterhouseCoopers and Paul Stevens is the former Head of Investec Private Bank in the UK.

Since its formation in 2009, Amicus has rapidly expanded its specialist lending activities and currently provides short term property loans, SME lending and working capital solutions through its three divisions, Amicus Property Finance, Amicus Commercial Finance and Norton Folgate.

John Jenkins, CEO of Amicus, said: “Applying for a banking licence is an important milestone for Amicus as we continue our growth journey.  Becoming a bank will ensure we have the resources to grow, adapt and evolve our proposition in the market over the coming years.

“I am delighted to welcome David Fisher, Alex Shapland and Paul Stevens to Amicus.  They have outstanding reputations in the financial services sector and will play an important role in strengthening our governance structure as we prepare for the next phase of our growth.”

Keith Aldridge, Founder of Amicus and Managing Director of Amicus Property Finance, added: “From our modest beginnings in 2009, I am proud to be part of the ever expanding team driving our growth.  This is positive news for Amicus Property Finance. Strengthening the board allows me to spend more time doing what I enjoy most, delivering for our customers and partners and capitalisation creates more capacity to deploy.”

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