SANCUS BMS Group has poached Wellesley Finance’s business development director Peter Hudson as part of an expansion into peer-to-peer bridging and development finance.
Hudson has been appointed to a newly-created role of director of property finance, covering the Sancus and FundingKnight brands within the GLI Finance group.
His focus will be on expanding the platform’s property lending into areas such as bridging, commercial and development finance, as well as cash flow finance.
Hudson also brings experience of working for UKAR, Aldermore, Nationwide and Hampshire Trust.
He said he was looking forward to leading on an “ambitious programme” to become a significant player in the bridging, development and commercial market.
“The decision to join Sancus was an easy one,” he said.
“As part of a wider group with a strong balance sheet and the backing of an alternative investment market listed parent with a cumulative loan book of £578m, they have the resources, ability and drive, to grow their property loan portfolio across the UK, Ireland and Channel Islands.
“I have a passion for property lending and enjoy supporting property developers, house builders and trading businesses to achieve their vision. Now I have the ability to include bespoke funding solutions which combine property, asset based lending and cashflow finance.”
Richard Whitehouse, sales director at Sancus Finance and FundingKnight, said the appointment would help provide more finance options for clients.
“With a continuing housing shortage and a banking industry that remains reluctant to support the sector, we are keen to ensure that our clients have access to a range of straightforward finance solutions, which support their growth plans,” he said.
“Our increased focus on property lending will benefit from Peters’ undeniable experience in this area.”
The hire comes after a tough 2016 for GLI Finance.
The London-quoted company, which invests in a range of alternative finance providers, launched a strategic review last year following a £6.5m loss for 2015 that saw it sell assets, write down several investments and split the business into two parts.
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