Shawbrook Bank merges commercial and secured lending divisions

by: Carmen Reichman
  • 01/07/2016
  • 0
Shawbrook Bank merges commercial and secured lending divisions
Shawbrook Bank has merged its commercial and secured lending divisions in a bid to simplify the business for its stakeholders.

The new entity, called property finance division, will sit alongside the bank’s other customer facing businesses, consumer and business finance.

It will be led by Shawbrook’s deputy CEO Stephen Johnson (pictured) and will continue with its current strategy of diversification and serving specialised market segments.

Former leader of the secured division Philip George will continue to sit on the board and executive committee, seeking to create new opportunities for the bank across all lending divisions.

Former secured lending sales director Maeve Ward has been appointed to lead the division’s residential mortgage proposition, which will include the secured lending business and other specialist areas of first charge residential mortgages.

The commercial mortgages team will be led by managing director Karen Bennett and will continue to serve the specialist buy-to-let, short term loan and commercial mortgage segments.

Johnson said: “Shawbrook Bank has a very clear vision for the future and we are excited about the role a combined property finance business plays in delivering the bank’s ambition.

“It is my privilege to work with such a committed and passionate group of people and we look forward with great enthusiasm to continuing to serve our customers and business partners.”

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