London, Monday 7th October 2024 – The National Association of Commercial Finance Brokers (NACFB) has appointed Jim Higginbotham as its new Chief Executive Officer (CEO). With more than 30 years of experience in the commercial finance industry, Jim brings a wealth of knowledge to the leadership role.
Jim most recently served as Group CEO at STAR Asset Finance, where he led the brokerage through a period of substantial change, enhancing the risk control framework, upgrading the IT infrastructure, centralising the core business functions across four previously independent brokerages and increasing the group balance sheet by 50%. He has previously held senior roles at Lombard, Barclays, and GE Capital, where he developed an extensive understanding of asset finance, risk management, and stakeholder engagement across a variety of financial sectors.
Jim is stepping into the role at a pivotal time for the NACFB, which earlier this year surpassed the milestone of 1,300 Member firms. Representing more than 2,750 individual registered commercial finance brokers and 160+ commercial lender Patrons, the trade body plays an essential role in supporting the UK’s commercial finance community and is a growing influence within the financial services industry.
In his first statement as CEO, Jim Higginbotham said: “I am honoured to have been chosen by the NACFB Board to lead the Association into its next chapter of development. With over three decades of experience across all areas of commercial finance, I feel well placed to represent and deliver against the needs of our Members and Patrons. Over the last ten years, the importance of the commercial finance broker in the UK's financial ecosystem has continued to increase. For more and more UK SMEs, our Members act as trusted business partners, unlocking access to the most appropriate finance solutions, independent of product or provider.”
He continued: “As the regulatory and competitive landscape becomes ever more challenging, I want to ensure our Members benefit from the best possible support to help them succeed and prosper. I also look forward to strengthening our partnerships with Patrons and ensuring the highest levels of professionalism and trust in our community. I’m excited to meet with the membership and listen to their views on how the NACFB can best serve the commercial finance community in the years ahead.”
Adrian Coles, Interim Chair of the NACFB, welcomed Jim's appointment, stating: “Jim was a standout choice for the NACFB board. His experience, leadership, and vision make him the ideal person to guide the Association into the future. We are confident that Jim will build upon solid foundations, confidently steering the NACFB whilst ensuring it remains at the forefront of the intermediated business finance sector. The board and I look forward to working closely with him as we navigate the challenges and opportunities that lie ahead.”
As Jim assumes his new role, Norman Chambers, who has played an instrumental role in the trade body's success, will transition to the position of Non-Executive Director on the NACFB board later this year. Norman’s tenure has been marked by record-breaking membership growth and a strengthened reputation for the trade body within the industry.
