Sometimes, yes. If your group has a UK company, it can be named as process agent and many counterparties will accept that. Naming an individual director is riskier and frequently rejected. Either way, the arrangement must survive the whole term of the agreement, which is why independent professional agents remain the default.
When a group company works
A substantial UK subsidiary with its own premises and staff is often acceptable to lenders, and it costs nothing. The questions to ask are practical. Will that company still exist, at that address, throughout the term? Group restructures, disposals and office moves all break the arrangement, and because the appointment is usually irrevocable you would need the counterparty's consent to substitute a new agent. If the subsidiary is itself a party to the deal or might be sold, a lender will usually insist on an independent agent instead.
Why naming a director rarely survives negotiation
An individual can be named, and occasionally is in small transactions, but people move house, change jobs, travel and retire. Counterparty solicitors know that a claim form left with a former employee at an old address is a recipe for a missed deadline and a disputed service, so most simply strike the suggestion out and ask for a professional agent. It also places a personal burden on the individual that few directors want once the implications are explained.
The cost comparison
Given that a professional appointment costs from £125 per year with Tremark Process Agents, most groups conclude the saving is not worth the operational risk or the negotiation friction. If your counterparty has already asked you to replace an in house arrangement, we can issue a letter of appointment within 24 hours.