Growing finance trade with move

CEF Group moves to Scarborough'from left,Folarin Musiliudeen,senior partner Paul Smith and Chris Smith.'Picture by Neil Silk  114451'03/11/11
CEF Group moves to Scarborough'from left,Folarin Musiliudeen,senior partner Paul Smith and Chris Smith.'Picture by Neil Silk 114451'03/11/11

BUSINESS expansion is on the cards for a finance firm following a move to Scarborough.

CEF Group has moved its head office from Pickering to St Nicholas Street.

The family run company was set up in 2003, and is now looking to expand in to new markets.

Senior partner Paul Smith started working in asset finance in 1986 with commercial banks before deciding to use his contacts to set up on his own.

He said: “Primarily we started out financing high cost equipment and transport.

“Lately we have started to expand in to car finance, which is not something we have historically done.

“Our previous office in Pickering was quite isolated. The move to Scarborough was brought about by the development of the IT side of the business but also to get a presence in a central geographical area. The infrastructure is all here for us. Through that we want to expand the online business.”

Mr Smith’s son Chris joined the firm as a partner in 2004 and is focusing on growing the consumer car finance in what the CEF Group considers to be a niche market in Scarborough.

Along with the move the company has recently expanded its team, taking on Folarin Musiliudeen, who graduated form the Hull University Scarborough campus with a degree in Internet Computing.

His appointment is aimed at helping to boost the group’s online presence, making the business accessibly to customers 24 hours a day.