The Irish Asset and Invoice Finance Association (IAIFA), the representative body for the Invoice Finance and asset-based lending industry in Ireland, has appointed David Avery, Head of Commercial Finance at AIB, as Chairperson of the organisation. Mark O’Rourke, Managing Director of Bibby Financial Services Ireland has been appointed Vice Chairperson.
Formerly known as Asset Based Finance Association (ABFA), the industry body has been re-named as the Irish Asset and Invoice Finance Association (IAIFA) and members include high street banks and a number of independent specialist finance providers.
The organisation provides a collective voice for the industry, promoting the wider benefits of invoice and asset based lending solutions and ensuring that appropriate standards are upheld across all members. The organisation is also a source of information for those wanting to know more about the industry’s products and services.
David Avery is a Qualified Financial Advisor and has 25 years Invoice Finance experience, working initially for Lloyds Commercial Finance and latterly Bank of Scotland Cashflow Finance in the UK, where he held senior roles in risk and relationship management and sales. David joined AIB Commercial Finance, upon relocating to Ireland, as Head of Business Development and subsequently as Head of AIB Commercial Finance since 2017.
Commenting on his new position, David Avery says: “As chairperson of the IAIFA my goal is to broaden the understanding of invoice and asset-based lending across SME’s in Ireland. We want to create awareness of this financial solution and its ability to unlock funding to provide working capital to support growth, as well as its contribution to assisting in successful acquisitions and MBO’s. Equally, as Brexit materialises, such finance can help to provide certainty of funding and enable Irish businesses to navigate a challenging economic environment.”
Mark O’Rourke, who has been appointed Vice Chairperson of the IAIFA, has 20+ years of experience in the Irish banking sector. He is currently the Managing Director at Bibby Financial Services Ireland.
The current members of the IAIFA are:
- AIB Commercial Finance Ltd.
- Bank of Ireland Commercial Finance
- Bibby Financial Services (Ireland)
- Close Brothers Commercial Finance
- Grenke Finance Plc
- Ulster Bank Invoice Finance