Pictured: Steve Box, Chairman, Accelerated Payments
This week sees new and notable appointments at Accelerated Payments, Logicalis Ireland and Peru & Partners
Steve Box, Chairman,
Accelerated Payments
Irish invoice financing company, Accelerated Payments has appointed Steve Box as its Chairman. He takes up his role with immediate effect. Accelerated Payments, launched in 2017, has undergone rapid growth and has quickly become a key player in the alternative finance market in Ireland, UK, and North America. This momentum has increased in recent months and is expected to continue in the wake of Brexit as most Irish businesses look for accessible funding solutions to help them resume trading.
While the long-awaited new government works on the immediate rollout of the July Stimulus Package and business supports, such as the Credit Guarantee Scheme, evidence suggests cash-stricken SMEs have already turned to alternative providers such as Accelerated Payments to bridge the funding gaps.
Invoice financing firms allow businesses to borrow cash based on the strength of their unpaid invoices. Some of the more innovative companies, such as Accelerated Payments, focus on the debtor rather than the creditor and provide quick and low-risk access to cash that would be otherwise tied up in invoices with long payment terms. The debtor is often a much larger company with a strong credit history, and that is how the model works for both parties.
Accelerated Payments traditionally funds smaller and medium size businesses that have been neglected by banks due to their lending criteria. It also does not require customers to provide personal guarantees and, unlike most alternative finance providers, helps customers expand overseas by funding invoices from international buyers.
Box, who joins the board as Chairman, is the former International CEO of Bibby Financial Services Ltd and former Global Head of Receivable Finance at HSBC. With over 35 years of experience in banking, invoice financing and working with businesses across North America and Europe, his appointment will provide the Irish company with further expertise as it embarks on its next phase of growth, supporting business emerging from lockdown. Ian Duffy, CEO Accelerated Payments said:
Covid-19 has changed the landscape irrevocably for businesses across Ireland. Cash reserves are low, and as we emerge from lockdown, businesses need swift and secure support to get back on their feet quickly. The excruciatingly long processes, imposed by many lenders, before offering credit are incompatible with the needs of many smaller and medium size businesses. We have supported these businesses throughout the pandemic and have seen a massive uptick in demand across a range of sectors. As companies emerge from lockdown, our offering allows them to begin trading immediately and have access to cash flow based on the strength of their orders. We will also be able to support the market post Brexit given our ability to support internationally trading businesses.
Steve Box, Chairman, Accelerated Payments said:
I am excited about Accelerated Payment’s technology and their innovative approach to invoice financing. Unlike any other company in the market, their platform provides businesses with complete control of their finances as it gives them full visibility of what they are borrowing, how much it will cost and if they are going over payments. This transparent service is precisely what businesses need during this challenging period where liquidity is scarce, and confidence in the market is low.
“Accelerated Payment’s offering, which makes it easy and quick for companies to access finance on the value of a single invoice, has seen it rapidly expand its position in the market. In Ireland especially, there is a notable lack of flexible finance for ambitious businesses – an absence which is becoming increasingly important to fill”.
“I am proud to be joining a company that has supported so many businesses throughout Covid-19 with a product that is providing liquidity in a simple, fast, affordable, and transparent manner and I am looking forward to helping them continue their growth both in Ireland and into new markets.”
Sriram Srinivas, Head of Annuity Business,
Logicalis Ireland
Pictured: Sriram Srinivas, Head of Annuity Business, Logicalis Ireland
Logicalis Ireland, the IT Solutions and Managed Services provider, today announces the appointment of Sriram Srinivas as its Head of Annuity Business.
Sriram will be responsible for growing the annuity side of the business by identifying new opportunities within its Managed Services offering and establishing company growth objectives. As part of this, he will be working with the wider sales team within Logicalis Ireland to expand its customer base and enhance the company’s proposition for existing clients.
With more than 18 years of sales management and consulting experience in the IT and telecoms industry, Sriram has extensive experience managing customer accounts, ensuring client satisfaction, building sales pipelines and delivering large scale projects.
He possesses the necessary expertise to provide recommendations for IT transformation in various technology sectors and has a proven track record of working with partners and vendors to develop effective business plans.
Sriram joined Logicalis Ireland following five years with Tech Mahindra. There, he was an Oracle Practice Head for Europe before taking up the role of Country Manager for Ireland. Prior to that, he held positions in Aris Global (Business Initiative Manager) and Oracle (Senior Sales Manager). Sriram also has a Bachelor’s Degree in Engineering from Bangalore University, India.
Speaking about the latest addition to the Logicalis Ireland team, Tadhg Cashman, Services Director for Logicalis Ireland, said:
“Sriram not only has expertise in technical concepts and sales initiatives, he has an unwavering passion for new technologies and ideas. His skills and knowledge will help us to develop and implement strategies that support both business and financial objectives, whilst adding value for our customers.”
Christophe Pasquier, Department Head, CFO Secondment,
Peru & Partners
Peru & Partners has appointed Christophe Pasquier as Department Head, CFO Secondment. Christophe Pasquier has over 25 years of finance industry experience with particular expertise in group financial management and private equity. Before joining Peru & Partners, Christophe spent 11 years as Chief Financial Officer (CFO) of NextStage AM, a management company that specialises in growing French SMEs through private equity funds. Most recently, Christophe founded Auxainole Conseil, providing outsourced CFO services to companies and family offices in France, including auditing and the management of business transformation and performance improvements.
Peru & Partners became part of IQ-EQ, a leading global investor services group, in July 2019. IQ-EQ’s acquisition of Peru & Partners added fund accounting, fund administration, CFO secondment, valuation services and GP and portfolio company accounting to the group’s existing Paris-based private equity fund management business, composed of 40 professionals.
Within the Peru & Partners leadership team, Christophe and Lucie will join fellow department head, Ramelle Gabdibe (Valuation Services), who joined the business earlier this year. They will report directly to Peru & Partners’ CEO and founder, Sébastien Péru. Commenting on the two recent appointments, Sébastien said:
“It is with great pleasure that I welcome both Christophe and Lucie to Peru & Partners and to IQ-EQ. Being Europe’s second largest private equity market, France is of great strategic significance to our global group and is key to the continued growth of IQ-EQ’s alternative funds offering in Europe. As such, the timing is perfect to bring Christophe and Lucie on board and I look forward to working with them both to help drive the continued success and expansion of our French operations.”
Lucie Bouard, Department Head, Fund Administration,
Peru & Partners
Peru & Partners has appointed Lucie Bouard as Department Head, Fund Administration. Lucie Bouard joins Peru & Partners from a prominent international fund administration and accounting provider, where she was Fund Manager in the firm’s Paris office and specialised in private equity. Lucie has 14 years’ experience in the finance industry, including seven years as Financial Controller of 123 IM, an independent French asset manager, and four years as Financial Auditor with leading global audit firm, Mazars.
Peru & Partners became part of IQ-EQ, a leading global investor services group, in July 2019. IQ-EQ’s acquisition of Peru & Partners added fund accounting, fund administration, CFO secondment, valuation services and GP and portfolio company accounting to the group’s existing Paris-based private equity fund management business, composed of 40 professionals.
Within the Peru & Partners leadership team, Christophe and Lucie will join fellow department head, Ramelle Gabdibe (Valuation Services), who joined the business earlier this year. They will report directly to Peru & Partners’ CEO and founder, Sébastien Péru. Commenting on the two recent appointments, Sébastien said:
“It is with great pleasure that I welcome both Christophe and Lucie to Peru & Partners and to IQ-EQ. Being Europe’s second largest private equity market, France is of great strategic significance to our global group and is key to the continued growth of IQ-EQ’s alternative funds offering in Europe. As such, the timing is perfect to bring Christophe and Lucie on board and I look forward to working with them both to help drive the continued success and expansion of our French operations.”
