Peter Cordrey has joined the Board and has taken over from Frank Lafford as Non Executive Chairman.  Frank Lafford will remain as a Non Executive Director.

Peter is a Chartered Accountant and a Fellow of the Chartered Institute of Management.  He has been Chairman of Hampshire Trust Plc since 1997 and previously spent 25 years with the merchant bank, Singer & Friedlander Limited, the final 12 years as a Director and head of banking.

Peter has extensive experience in all areas of banking and finance and will play a significant part in the group’s expansion plans.

Potential Finance Group plc has sold its factoring book to SME Invoice Finance Limited.

SME will acquire the performing accounts from Potential Finance Limited together with substantially all of the operational staff.

Potential Asset Finance Limited will be the Group’s principal operating subsidiary and the Board believes that it is well placed to enjoy significant growth in the coming years.