Originally from Inverurie, Aberdeenshire, Ian Thain has been involved in asset finance since 1987. A Founding Director of ABF, Ian built a wealth of experience with Bank of Scotland, Barclays, and Lombard, before entering the Broker market in 2016.
We sat down with Ian to discuss his career, his personal passions, what he’s learned and what he envisions for the future of Allied Business Finance.
So how long have you been in finance, and what sectors do you specialise in?
I’ve been in finance for 38 years now, so you could say I’ve seen the industry change! Over that time, I’ve specialised mainly in Asset Finance across the haulage, bus and coach, plant hire, manufacturing, and oil service industries. They’re all very different sectors, but what ties them together is the need for reliable funding to keep businesses moving and growing, and that’s where I’ve always enjoyed playing my part.
What do you enjoy outside of work that helps you recharge?
Outside of work, I’m involved in hosting sporting and corporate lunches and dinners. It’s a great way to connect with people, mix business with a bit of fun, and support causes that matter. And of course, football plays a big part too. I support two of the biggest teams in Britain, though I’ll keep their names under wraps, as they’re not exactly flying right now!
Any dislikes?
Yes, I hate it when simple tasks are made unnecessarily difficult. Life’s complicated enough without overcomplicating the basics!
Moving on to your career, what was your very first job, and what did it teach you?
My very first job was working as a porter at the Newton Hotel in Nairn. It taught me a hugely valuable lesson early on: the importance of teamwork. Everyone had to pull together to make things run smoothly, and that’s a principle I’ve carried with me throughout my career.
What’s one decision or turning point that changed your path in an unexpected way?
The big turning point for me came in 2016, when I had the opportunity to become a broker at First Independent Finance. At the time, I’d been working with Lombard, and the business seemed to be moving towards a less personal, more transactional style of working. That never sat well with me, because for me it’s always been about building strong customer relationships. Moving into broking allowed me to keep that personal, relationship-driven approach, and I haven’t looked back since.
If you weren’t in this role, what’s another career you could imagine yourself in?
I’d probably focus on growing the event hosting. I really enjoy bringing people together, creating an atmosphere, and seeing an event come to life, so if the right opportunities were there, that’s definitely something I’d pursue.
Who has been the biggest influence or mentor in your career?
I’d have to say Robert McMillan, my former manager at Lombard. He was a huge influence on me; he valued customer relationships above all else, kept things simple, and always had my back. Those qualities stuck with me, and I’ve tried to carry them forward in the way I work with clients and colleagues today.
What’s been your favourite deal and why?
One that really stands out was for a long-established food processing business. They were purchasing three large pieces of equipment from foreign suppliers, all invoiced in Euros.
We agreed the credit, confirmed the sterling equivalent, and got all the documentation ready for signature. The customer paid the suppliers directly in Euros, and we set up a Sale & HP Back so they could quickly recover the funds.
Everything came together smoothly – documentation and inspections were done quickly, and the client was reimbursed within just a couple of days. It was one of those deals where everything clicked, and where you know you’ve made a real difference – we helped the client manage cash flow efficiently without disrupting their operations.
What advice would you give to the young Ian Thain just starting out?
I’d tell myself to stop and think, especially when faced with adversity. It’s easy to react in the moment, but taking that pause to assess things properly often leads to better decisions and calmer outcomes.
How do you personally handle setbacks or challenges?
When it comes to challenges, I’d say I handle them a lot better now than I did when I was younger. These days, I make a conscious effort to step back, take a breath, absorb the situation, and then look at the different ways forward. If you can come up with more than one solution, you’ve always got options, and that takes the pressure off.
What do you hope people say it feels like to work with you?
Hopefully that I communicate and deliver on my promises. Trust is everything in this business, and if people feel I’ve been straightforward and reliable, then I know I’ve done my job right.
(Well, they say that and more!)
| “We have a fleet of over 370 vehicles, with more than 100 owned outright, and we’ve been working with Ian and Allied Business Finance since the company was founded.
Since ABF’s inception, they’ve handled 100% of our asset finance needs at Rainbow. Their process is fast, efficient, and the fact that Ian and his team can shop around for the best rates means we don’t have to. We’d highly recommend Ian and Allied Business Finance; they’ve never let us down. ”Russell, Aberdeenshire Taxi Firm |
What excites you most about the company’s future?
For me, it’s the freedom to grow. Being part of a business where we can adapt, seize opportunities, and shape our own path is incredibly exciting. It gives us the chance to keep evolving while staying true to our values.
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To discover how Ian’s 38 years of experience can help your business secure the right finance, call him on 07464 549220, email [email protected] or complete our contact form. To learn more about Ian’s career and his achievements, you can find him on LinkedIn. To keep up to date with all that’s happening at ABF, follow us on LinkedIn, Facebook, and Instagram.
