Appointment of New Chair

RNS Number : 5497Q

Supply @ME Capital PLC

28 October 2021

 

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28 October 2021

Supply@ME Capital plc

(The "Company" or "SYME")

Appointment of new Chair:

Supply@ME appoints James ("Jim") Coyle as new independent Non-executive Chairman

Supply@ME Capital plc, the fintech business which provides an innovative Platform for use by manufacturing and trading companies to access Inventory Monetisation solutions enabling their businesses to generate cashflow, is pleased to announce the appointment of Jim Coyle as its new independent non-executive chairman with effect from 28 October 2021.

The Company conducted a rigorous and wide-ranging selection process to ensure that it appoints the strongest possible candidate to lead the business through its next stage of growth. Mr Coyle succeeds Dominic White, who stepped down from the role in July of this year.

Mr Coyle is a highly respected, strategic leader who brings over four decades of both executive and non-executive financial services experience to the role. After a thirty-year career at some of the UK's largest institutions, including BP, Bank of Scotland and Lloyd's Banking Group Plc, where he served most recently as Group Financial Controller and Deputy Group Finance Director, Mr Coyle has been appointed to a number of Board roles mainly across the financial services industry. He currently serves as a Non-Executive Director and Audit Chair of HSBC UK Bank Plc and M&S Bank Plc and chairs other M&S group subsidiaries, as well as serving as Senior Independent Director on the board of Honeycomb Investment Trust Plc and Audit and Risk Chair at Scottish Water. He has previously held the role of Chair at international payments business World First.

Mr Coyle qualified as a Chartered Accountant with KPMG.

SYME Chief Executive, Alessandro Zamboni said:

"I am very pleased to welcome Jim to Supply@ME. He brings vast experience and an exceptional track record gained at some of the UK's largest financial institutions. His counsel, expertise and network of contacts will be invaluable as we embark on an exciting new stage in Supply@ME's growth."

SYME Chair, Jim Coyle said:

"I am delighted to be joining Supply@ME as its new chair. This is a great opportunity to work with a business with a unique model and brilliant leadership team. The growth strategy and opportunity for Supply@ME are clear and I believe we are well positioned for the years ahead. I am looking forward to working with Alessandro and the team to drive the business forward, providing a much-needed financing solution to SMEs globally."

Notes

Supply@ME Capital PLC and its operating subsidiaries (together the "Group") provide an innovative fintech platform (the "Platform") for use by manufacturing and trading companies to access inventory trade solutions enabling their businesses to generate cashflow, via a non-credit approach and without incurring debt.  This is achieved by their existing eligible inventory being added to the Platform and then monetised via purchase by third party Inventory Funders.  The inventory to be monetised can include warehouse goods waiting to be sold to end-customers or goods/commodities that are part of a typical import/export transaction. SYME announced in August 2021 the launch of a global Inventory Monetisation program which will be focused on both inventory in transit monetisation and warehouse goods monetisation. This program will be focused on creditworthy companies and not those in distress or otherwise seeking to monetise illiquid inventories.

Contacts

Alessandro Zamboni, CEO, Supply@ME Capital plc, [e-mail]

Paul Vann, Walbrook PR Limited, [phone]; [e-mail]

Brian Norris, Cicero/AMO, [phone] [e-mail]

 

END

 

 

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