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Strategic appoints new director for new financing direction

Wednesday, February 18th 2004, 11:29PM
Former UDC Finance general manager, Brent Knight, is to join property financier and investment banker, Strategic Finance Limited, as an executive director.

Knight will be based in Strategic's Auckland office and will play a major role in diversification of the company¹s lending portfolio.

Diversification will includes a move into motor vehicle financing.

Until now Strategic has focussed on commercial and residential property financing in New Zealand and Australia, with total assets of more than $280 million.

It's current loans portfolio is in excess of $225 million after purchasing a $46 million commercial loans portfolio from AMP¹s New Zealand banking operation late last year.

Knight joins Strategic this week after a long career in the automotive and asset financing sector both in New Zealand and overseas. Prior to running UDC Finance Limited, he was general manager for seven years of Esanda Fleet Partners, both of which are owned by the ANZ Banking Group.

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