Molly Brown is an Area Sales Manager and industry specialist within the Manufacturing team. Here she shares her thoughts about her role and talks about what equipment is currently most in demand.
Tell us about your work history...
I began my career in finance as an apprentice with Royal Bank of Scotland after completing my A Levels at 17. I was fortunate enough to be placed within Lombard where I discovered my passion for Asset Finance, and 8 years later the industry is all I’ve ever known.
I’ve been at Close Brothers in my current role approaching 3 years and since have graduated with a degree in Business Management, and more recently begun studying towards my ACCA qualification.
How does your industry experience help you in your current role?
My role at Close Brothers is very specific, 90% of my clients are in the manufacturing / engineering industry however my background is very broad having looked after clients in almost every business sector in my past. The benefit to being sector specific is that I’m able to understand the operating rhythm of that sector much more in depth and also get to know the machinery, requirements and suppliers much better.
Can you tell me a bit more about your current role?
My current role at Close Brothers is Area Sales Manager in the Manufacturing division. The team I am part of also represents Finance for Industry, which is our vendor brand.
The brand focuses on-boarding dealer relationships in our sector to become their finance partner of choice.
What types of assets do you finance?
One of the most common types of assets we currently finance in our sector are Machining Centres such as Mazak’s and Hurco’s and Machining Presses/Benders such as Trumpf’s and Salvaghini’s.
We have also funded factory automation that sees us fund everything involved in the production process or refinances for debt restructure and/or cash injections.
What machinery/equipment are you finding is currently most in demand?
Due to our niche, I have seen a number of refinances in the last 12 months to restructure debt and inject capital into a business at a time they needed it most. However, we have seen continual investment in new machinery and now C19 is beginning to pass, we are seeing these come to fruition.
What technological developments have you seen in the industry?
Most notably is the introduction of new materials and software advances. Technology is ever evolving, with new innovations creating exciting new opportunities for manufacturers.
New technologies tend to open the door for innovative offerings, like robotics and automation. ‘Smart’ manufacturers are something we’ve seen a huge increase in and is something I suspect will continually rise.