Elysium Bridging will be headed up by former HBOS adviser and ex-Hope Capital BDM Paul Gammond. The management team will also include commercial adviser Leigh Goodman and chartered accountant Nathan Romburgh.
Cheval closed its doors in 2012, after 17 years in the market, when it was unable to secure further funding from its principal source, Clydesdale Bank.
Elysium’s launch comes in the same month as Octane Capital’s entrance to the market. Octane is headed up by Mark Posniak, formerly MD of Dragonfly and sales and marketing director for Cheval between 2005 and 2008, according to his LinkedIn profile. Posniak joined forces with former Dragonfly (now Octopus Property) colleague Jonathan Samuels who will take on the role of chief executive.