Ultimate Finance founder and non-exec director quit: Richard Pepler, chief executive and co-founder of Bristol-based factoring group Ultimate Finance, has quit the business with immediate effect. Mr Pepler, who was previously sales and marketing director at Bibby Factors in Bristol, launched the business nine years ago and has since built it up to become one of the largest independent businesses in the invoice discounting and factoring market. More from Bristol Business News…
UWE architecture project builds on success with RIBA award: A building designed to inspire and help educate UWE Bristol students studying architecture and product design, has won the public sector building 2011 award, from the Royal Institute of British Architects (RIBA). Stride Treglown, the Bristol-based architects behind the building, were also been nominated for two other awards for it – the Constructing Excellence Award and the Green Gown Award. More from Bristol Business News…
Airbus support for Filton Airfield closure is ‘bitter blow’ for campaigners: Airbus has come out in favour of closing down Filton Airfield because they say it is no longer financially viable to continue. The company, which has 4,000 workers at its Filton factory, has said in a statement to South Gloucestershire Council that the continued operation of the airfield was “unsustainable”. Its support for closure will be a blow to campaigners who have been fighting to keep the airfield open. More from Bristol Evening Post…
Brightside acquires software companies: Bristol-based insurance broker Brightside Group has bought two software development companies for £17m. Software house eDevelopment is to provide the broker with control of the specification and timing of the development of its online distribution capability, Brightside said. The sale of E-Systems will be used to increase the capital base of Southern Rock Insurance Company, which currently provides underwriting capacity to the group. More from Insider Media…
News in brief
Third of CFOs keeping higher cash reserves: Almost a third (31%) of UK Chief Financial Officers (CFOs) are retaining higher cash reserves, rather than re-investing revenue back into the business or returning monies to investors, according to new research from Robert Half Management Resources. The research reveals that a lack of available credit by banks is causing CFOs to re-evaluate their company’s balance sheets and how they manage profits. A quarter (26%) of those surveyed cited difficulty in securing finance and credit as the main reason for not returning profits to investors or re-investing in the business.
Savills development team bolsters its ranks with new graduates: Savills development team in Bristol, which handles development consultancy, strategic land, valuations and sales development land, has grown its team with the appointment of two new graduates. Rachel Morton and Luke Austin join Savills in Bristol as graduate surveyors. Both will be involved with current client projects from the outset, while also being supported through their APC.
