- SME finance provider Time Finance has appointed Edward Rimmer as interim chief executive to replace outgoing Ian Smith.

He has been hired to the role and as a director of the company with immediate effect.

Smith is expected to leave the company and step down as a director not later than 26 February 2021 and will work until then with Rimmer 'to complete an orderly handover of duties and regulatory responsibilities'.

Rimmer was previously chief operating officer of Time Finance until April 2020, having joined the company in 2017 as managing director of the newly-established commercial finance division comprising the acquired businesses of Gener8 Finance and Positive Cashflow Finance.

From 2007 to 2012, Rimmer was UK chief executive and main board director of Bibby Financial Services.

Non-executive chairman John Newman said: 'Ed has extensive experience within the financial services sector and his specific knowledge of the group from his time with us as group COO will enable him to take up the CEO responsibilities quickly and effectively. 'On behalf of the board I wish to record our sincere thanks and appreciation for the leadership and guidance that Ian Smith has given to the group as CEO and he leaves with our best wishes for the future.'

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