Assetz Capital, an estabished lender to the UK SME property markets announced that it has appointed four senior executives to its Board.
Assetz Capital, a company that has been focused on the United Kingdom‘s SME commercial property and residential development markets, announced in a blog post that it has appointed four senior executives to its Board.
According to Assetz Capital, the board-level appointments have been made from within the firm and will aim to strengthen its senior management team as it embarks on the “next phase of growth.”
Assetz Capital confirmed in the update that the UK-based business will continue to be led by CEO and co-founder Stuart Law, with newly appointed board members including: Andrew Fraser (Chief Commercial Officer), Irene Thomas (Chief Operating Officer), Mark Wardrop (Chief Financial Officer) and Tim Harper (Chief Credit Officer).
As stated in the announcement, Dave Allanson will continue to “support the new Board as Non-Executive Director.”
The newly formed team will be expected to bring a sharp focus on maintaining operational excellence, commercial strategy, as well as credit best practice across the lending business.
The update comes as MD Andrew Charnley will be stepping down from his role in due course to “pursue other opportunities.”
During the past few years, Assetz Capital, which is based in Manchester, has pivoted and is now fully institutionally funded, after a shift in “market dynamics.”
The business is heading towards operating at “pre-pandemic lending levels” again, and expecting to move well beyond £30m of new lending per month in the next year – “supporting SMEs to achieve their property development growth ambitions.”
The firm explains that it usually lends between £1m and £10m per deal. It specialises in development finance loans, commercial mortgages and bridging loans – which are intended for the leisure, hospitality and care sectors.
Stuart Law, CEO and co-founder of Assetz Capital, said that it is encouraging to see lending returning to pre-pandemic levels.
Law added that their board appointments mark a key milestone for their leadership team.
Law also mentioned that each of these individuals have served an important role in their journey, and their contributions will be valuable for their next phase of growth.