CONGRATULATIONS TO EIS PORTFOLIO MANAGER CONNOR GRIMES
During Summer 2016 , Seneca ’ s EIS Portfolio Manager , Connor Grimes joined 170,000 investment management professionals across 91 countries in attempting to climb what has been called the “ Mount Everest of Finance ” by taking a Chartered Financial Analyst ( CFA ) exam - a six-hour battery of tests with rigorous questions covering topics like quantitative analysis , accounting and ethics . Having put in many months of work towards the day , Connor passed his level 2 exam ; the pass rate in 2016 for Level 2 was 46 %. Excellent work Connor .
SENECA ’ S NEW TRADE FINANCE BUSINESS HELPS COMPANIES PAY SUPPLIERS
A funding line of £ 10m has been set aside for Seneca Trade Partners , headed by Chris Divers and Chris Williams , offering international trade credit facilities for clients based across the UK .
“ Being associated with such a respected brand is a great start for us .”
8 | ONSIDE WINTER 2016
Divers , who has 25 years ’ experience in asset-based lending , said “ the new business will support clients front end working capital requirements by paying suppliers and purchasing stock .
“ What we are offering is a variation on a theme ,” said Divers . “ The new business gives us a perfect platform to help SMEs using lending disciplines which are unique .”
Williams added : “ We spoke to numerous prospective backers but Seneca Partners ’ financial strength and entrepreneurial approach meant they stood out as a natural fit .
“ Being associated with such a respected brand is a great start for us .”
The duo are based at Seneca ’ s head office in Haydock . Seneca Partners currently provides debt and equity funding of around £ 100m largely deployed in the North West SME market .
Managing Partner Richard Manley said : “ Seneca has been looking to enter the trade finance market for some time and we were impressed by their specialist knowledge and bespoke funding approach .”