Digby Brown on fast track to growth following £5m funding from HSBC

Digby Brown will use a £5 million debt facility from HSBC to invest in a significant review and upgrade of its current systems and infrastructure as well as further invest in its staff and sector leading marketing.

Fraser Oliver, chief executive at Digby Brown, said: “Client care and the delivery of excellent service is the top priority for Digby Brown. We are currently enjoying double digit annual growth and the new facilities provided by HSBC will allow us to maintain this and continue to deliver the excellent client service levels we pride ourselves on.”

As part Digby Brown’s wider growth strategy, the HSBC funding package will also support ongoing investment in staff, which has already seen the firm appoint three new specialist partners in May. Overall headcount has grown by 22 per cent in the last two years alone.

Grant Bett, relationship director at HSBC, said the flexible package of support, which includes a working capital facility, is designed to support Digby Brown’s future growth plans: “Digby Brown has demonstrated a tremendous appetite for growth and required the right business infrastructure to support this. We worked closely with the team to provide a facility which not only funded their short-term plans but also supported their ongoing and evolving needs in the long-term.”

These funds are allocated from the bank’s national £10 billion SME fund to actively support UK SMEs. £450 million is specifically designated to support Scottish firms and rebalance the economy outside of London.

John Keenan, finance director at Digby Brown, added: “Having recently joined the company it became apparent that Digby Brown needed a bank that would really understand both our balance sheet and our business. HSBC’s expertise met with our ambition and we are now on track to exceed our strategic goals for 2016 and beyond.”