Dow Schofield Watts has announced two leading asset-based lending specialists have joined the firm to launch a new service providing due diligence and risk management services for clients in the sector.
Dow revealed Hazel Lomas and Martin Ellison have over 60 years’ experience between them during which time they have worked with “most of the major names in the industry”.
The new business, entitled DSW ABL Risk Management, is based at Dow Schofield Watts’ Daresbury office. It will focus on providing asset-based lenders with specialist due diligence and risk management services across multi asset classes to support their lending decisions, and ongoing support and advice to advisors, investors and their portfolio companies.
It added the launch comes at a time when many asset-based lenders are looking to review their portfolios and reassess their level of risk on both existing and new clients due to the uncertainty caused by the pandemic and Brexit.
Hazel Lomas, who worked for GE Capital and Lloyds TSB Commercial Finance amongst others before setting up her own consultancy in 2016, said: “Dow Schofield Watts is a highly respected name in the industry. Being part of the network will open up new growth opportunities for our business. We look forward to working with other specialist teams within Dow Schofield Watts to deliver our range of services across the asset-based lending marketplace.”
Ellison, who trained as an accountant and has worked for HSBC Invoice Finance and Bibby Financial Services amongst others, has been an independent consultant for over a decade.
He added: “The time is right for us to take a step forward to build our business. In the wake of the pandemic many lenders are very aware of the need to review their existing portfolios and reassess their new business risks. At DSW ABL Risk Management, we are perfectly placed to provide an expert service to support them.”
DSW ABL Risk Management will be the 20th licensee for Dow Schofield Watts, whose model enables professionals to run their own business under its brand. In December 2021 DSW Capital – the company behind the Dow Schofield Watts brand – raised £5m in a successful IPO which will help accelerate the growth of the network.
Nicole Burstow of Dow Schofield Watts added: “We are delighted to welcome Hazel and Martin, who are amongst the leading experts in their field, and announce the launch of another new service line.
“Their arrival is in line with our ambition to become the firm of choice for entrepreneurial professionals who want to run their own business, and further build our range of specialist services to become a natural alternative to the big four.”