Meet the Expert: Joe Silva

Here he discusses his predictions for the sector over the coming 12 months and how he likes to unwind in his spare time.

Briefly tell us about your role and what you do…

I am a Regional Sales Manager in the Materials Handling team; my role is to identify any onboard key dealerships as well as fostering relationships within the Materials Handling sector. My day-to-day tasks include researching and identifying growth opportunities, nurturing existing relationships within my dealer network, and working closely with our support team who are based out of Manchester. I spend a large portion of my time building relationships with industry contacts, which helps me to monitor developments in the Materials Handling sector. I enjoy building my knowledge of new assets, trends and technologies within the industry and sharing the knowledge with my team. 

What was your journey to Close Brothers?

I have worked in asset finance for almost 9 years, with my journey being shared across varying roles, which have given me exposure to the full process of funding our customers. I have had experience in a variety of roles such as Processing, Credit Analysis, Customer Services and Sales Support. I’ve found that each role has added valuable skills and knowledge to my portfolio, which in turn has given me the knowledge and confidence required to fulfil my current role.

What’s your favourite part of the role?

My favourite aspect of the role is interacting with the people who work within our dealerships and manufacturers. I pride myself in being approachable and easy to deal with, and I find that this often leads to open and honest conversations around the challenges and opportunities within the industry. I aim to give the salespeople that I work with the tools and knowledge of their finance options to empower them to be autonomous, whilst knowing they have my support should they need it. These interactions also mean that I benefit from a continuous source of new information, strategy, and real-life experiences that you couldn’t find in another environment. My goal is that my contacts see me as a trusted partner in their business for years to come.

Outside of work, how do you like to spend your time?

I love all things football, and for my sins I am a loyal supporter and season ticket holder of Fulham Football Club. Outside of football, I like to get out of the house and explore my local hiking routes with my wife Zoe and our crazy Dalmatian Loki! I also enjoy films, cooking (mostly Italian food), games and I’ll occasionally pick up a book when I have the time.

Give us an example of a deal structure that demonstrates how you can you help a customer

The advantage of dealing mostly in Contract Hire is that within some carefully designed parameters, we can be flexible in what we offer. The end user receives the benefits of a fully maintained fleet of assets to run their day-to-day Materials Handling needs, all for a fixed monthly rental. The dealer receives a flexible funding tool which allows them to manage their investments during their long-term hire.

An example of our flexibility is seasonal payment profiles. We recently had a customer who knew that they would not make use of the asset for 3 months of the year, therefore, to ease cashflow during this 3-month window we were able to pause their payments. This gave the customer peace of mind and allowed the dealership to budget for the reduced maintenance contributions during this time-period.

What are your top 2 predictions for your sector in the coming 12 months?

In 2024, I expect the Materials Handling sector will see continued market growth, encouraged by e-commerce and fast home delivery. In particular I would expect to see growth in the electric truck market, with current environmental issues and pressures making many end users re-evaluate their requirements. My second prediction is that we will see further innovation in Automated Guided vehicles. Since the pandemic there has been a buzz around these products, with them helping to reduce costs and offering a fail-safe option that could help maintain business continuity.