CEO designate Grimes resigns from Together

An update from the non-bank lender said Grimes would be leaving to “pursue other personal ambitions”. 

He has worked at the lender for almost four years. Before this, he was the head of commercial development at PCF Bank for around two years, and has also worked at the likes of GE Capital, Hitachi Capital and the Funding Corporation.

Mike McTighe, chair of Together, said: “Gerald has been a valued colleague and senior executive with Together for four years, and leaves with the appreciation of the board for his significant contribution, helping Together deliver continuing success and building a platform for sustainable growth despite the challenging economic backdrop of recent years.  

“He leaves with our best wishes for his future.” 

Together has begun its process to appoint a successor. 

The lender’s most recent results, which covered its Q1 period for the three months to September, showed it completed £670.5m in originations. Its loan book also grew by 16.3 per cent to £6.6bn, and Together said it closed the period “well-placed for future growth”.

This came after its previous financial year, which ended with a lending total of £1.4bn.

Together received a boost in capital at the end of 2023, as it increased its warehouse facility from £200m to £275m. The lender said this would support the diversification of its funding, and followed a £443m first-charge-only residential mortgage-backed securitisation (RMBS) in September and a £425.5m securitisation in June.