Bob Golden, the newly-appointed chief executive at Prompt, has revealed the premium finance house is close to signing two major exclusive contracts.

"We are in negotiation with several clients, and two of those are close to fruition," he said.

"These will be substantial deals."

Golden adds that Prompt recently moved from the City to bigger offices in Tolworth, Surrey, partly to reduce costs and partly to facilitate its expansion plans.

Prompt, which handles more than

£500 million of premiums, has recently started to finance personal lines premiums as well as commercial.

Golden joined Close Brothers, the owner of Prompt, in November 1999. He has now assumed overall responsibility for the bank's insurance premium finance division.

Prior to Close Brothers, Golden worked at the Royal Bank of Scotland for six years.

In 1997, he became the operations and credit director for Tesco Personal Finance - the Royal Bank of Scotland's joint venture with the supermarket group - where he was involved with the launch of its motor insurance.