Type Private Founded 1982 Owner Bibby Line Group | Industry Financial Services Key people David Postings (CEO) | |
Headquarters Banbury, United Kingdom | ||
Bibby Financial Services (BFS) is a multinational corporation which provides financial services to small and medium sized enterprises (SMEs).
Contents
- History
- Current chief executive
- Bibby Financial Services today
- Products and services
- Corporate social responsibility
- References
The company is a subsidiary of the Liverpool-based Bibby Line Group, which was founded in 1807 by businessman, John Bibby (1775-1840). Bibby Line Group operates across a range of industries including shipping, retail, marine, offshore and distribution.
History
Bibby Financial Services was founded in 1982 during Sir Derek Bibby's chairmanship of the Bibby Line Group, a post he held from 1969 until 1992.
For the first two years BFS was operated from the Bibby Line Group accounts department, before becoming a separate business entity.
The company has 19 UK offices with its headquarters located in Banbury, Oxfordshire.
BFS has more than 40 offices in 14 countries across Asia, Europe and America, including, Hong Kong, Singapore, Malaysia, India, Canada, France, Germany, Poland, Ireland and the UK.
Current chief executive
In September 2011, BFS appointed Simon Featherstone as global chief executive, replacing David Robertson who retired the same year. Featherstone was previously managing director at Lloyds TSB Commercial Finance, where he managed a team of 1,100 people across the UK, US and Europe.
Simon Featherstone left the business in August 2015. David Postings, who joined BFS as UK chief executive in April 2012, was appointed as global chief executive on 7 September 2015.
Bibby Financial Services today
Bibby Financial Services has 9,900 business customers, providing £683m of funding to businesses worldwide. In 2013, the business had a turnover of £170m.
The company is the largest independent invoice finance provider in the UK, handling annual turnover of over £5bn on behalf of its 7,000 clients. In November 2015 BFS announced that it was committing over £770m in funding to UK SMEs following a successful refinancing deal.
In 2011, 2012, 2014, 2015 and 2016 the company was awarded a place in The Sunday Times 100 Best Companies to Work For, ranking 31st in the most recent poll.
Products and services
Financing options provided by BFS include invoice discounting, factoring, lease finance, trade and export finance and specialist finance for the construction and recruitment sectors.
In December 2015, the company announced plans to launch a foreign exchange product in 2016 following approval from the Financial Conduct Authority.
Corporate social responsibility
In 2014, Bibby Financial Services contributed more than £160,000 to 157 employee chosen charities.
Since its creation in 2007, the Bibby Line Group's Giving Something Back scheme has raised more than £8.4m for over 1,000 charities.