In a short and terse statement, the board of the Liverpool-based business loan and equity provider said Ms Greenhalgh had left the organisation on May 17. Tony McDonough reports

Liverpool business loan and equity provider MSIF has announced that chief executive Lisa Greenhalgh has left her role as chief executive by mutual consent.

Two weeks ago it was reported by North West news site Business Desk that Ms Greenhalgh, who has been with the organisation since 2003, was no longer working from MSIF’s city centre offices.

On Wednesday morning, MSIF issued a statement revealing it was mutually agreed she should leave her role on May 17. It added the board would now take the opportunity to review its strategic direction and the structure of its senior management team. 

The statement said: “MSIF continues to maintain its strong market presence and will continue to build upon this and the support functions of the Finance Hub and LCR Angel Network.

“Going forward MSIF will further develop its strong working relationships with key partners and funders, the Combined Authority and local LEPs by capitalising on the success of MSIF in the marketplace, and aligning their brand values and goals.”

Ms Greenhalgh formerly headed up the finance department of Multivendor Computing Division-Nordic – a supplier of IT hardware and services that was a subsidiary of computer giant Fujitsu.

A Fellow of the Chartered Institute of Management Accountants and is also chair of the audit and remunerations committees of Edge Hill University.

MSIF was set up as Merseyside Special Investment Fund in 1994 using cash from the EU’s Objective One programme. Its mission was to invest in SMEs in Merseyside that might not secure loans or investment from traditional sources.

In that time it has invested and secured funds totalling more than £500m in over 2,000 businesses and, using the returns from those investments, has become a sustainable business in its own right.

It currently provides funding in, in the shape of loans or equity investments, from £500 to £2m to SMEs across the North West and North Wales.