Paul Israel joins Magnet Capital ahead of launch this month

Israel will join CEO and co-founder Ashley Ilsen and managing director Sam Howard at the lender which launches into the broker market on October 22.

Israel was CFO at property investment firm Cogress from its launch in 2014 until last year.

During that time he created its business plan, helped Cogress launch its first 35 property projects and raised £115m of investor’s equity.

Previously, he trained as a chartered accountant before working at the Virgin Group head office and in several high growth entrepreneurial businesses.

Managing director Sam Howard said he was pleased to have Israel on board.

“His financial expertise is essential to the growth of Magnet and he comes with a deep understanding of residential development projects,” he said.

“He was instrumental in the growth of several successful start-up businesses, including Cogress, and we are delighted that he is now part of the Magnet family.”

Israel added: “It is a wonderful and exciting business to be joining.

“Together with Sam and Ashley we have built a very clear vision for entering the development finance market and I am delighted to be a founding part of it.”