Richardson will report into David Whittaker and departing managing director and shareholder Olejnik.
Olejnik is starting a phased retirement from the business – reducing his current four days a week role to three days per week then two – helping to steer the business through to the end of the stamp duty deadline before stepping down at the end of March.
The outgoing managing director of Mortgages for Business said: “I have been with Mortgages for Business for going on two decades and I am pleased to leave the firm in such capable hands. As a shareholder, I’ll keep a close eye on the business – which will always be close to my heart. It has been a tough decision but it’s time for me to take a break and spend more time with the family. While I plan to broadly retire, I may look at some fresh challenges in due course.”
David Whittaker said: “Steve has been the managing director of Mortgages for Business for the last two and a half years and he goes with all our blessings and thanks for his service.”
This follows the promotion of COO Elise Coole at sister company, Keystone Property Finance, to the role of managing director, recently interviewed by Specialist Lending Solutions. The move gives David Whittaker, the CEO of parent company, The Property Business Group, time to dedicate to managing an orderly transition at the brokerage, he said.
As chief operating officer, Richardson will be responsible for all regulated, commercial and buy-to-let mortgage activity within the business. He has HSBC, Lloyds TSB and NatWest on his CV and over 16 years’ experience in the financial services industry. Taking a break from financial services in 2012, Richardson spent three years working as a full-time rugby coach for England RFU, Harlequins RFU, and Sussex University.
David Whittaker, CEO of parent company The Property Business Group said: “We have solid succession plans in place across the group and the move from COO to MD has worked well before. For instance, we gave Elise a twelve month stint as chief operating officer at Keystone before we promoted her to managing director – and I am confident Gavin will be as successful in the COO role as Elise was.”
Jeni Browne, who joined Mortgages for Business in 2006, remains business development director, Gavin Elley continues as head of sales for the Wilmslow office, and Andy Elley retains his head of commercial role at the 24 consultant business.
Keystone Property Finance completed its inaugural £400m securitisation earlier in January, the first in the buy-to-let sector in 2021.