He joins from Banyantree Bank, where he was head, risk and credit and had the responsibility of managing and restructuring its portfolio of bridging loans. He worked there for three months and within this role he helped to develop a network of introducers, sourcing and then structuring property lending transactions.
Munden also previously spent 19 years with Standard Chartered Bank in numerous credit and risk related roles.
He worked as regional head of country cross border risk for South East Asia and Latin America for 15 years, before becoming head, risk due diligence and integration for three years, then later head of strategic investments risk for the bank for a year.
At Saxon Trust, Munden will work with the board and institutional funders, to manage the credit and risk function. He will work closely with the lender’s new business team and co-founder and director, Andrew Gardiner.
Saxon Trust said further hires are planned as originations grew across both development and short-term finance. This follows the additional funding and its rebrand from Calmez in 2020.
Last month, the lender hired Nick Taylor as its head of portfolio management – development lending.
Munden (pictured) said: “Having enjoyed a long and successful career with a major blue-chip bank I’m excited to be joining a progressive specialist lender just as it is entering a significant growth phase.
“The opportunity to use my experience, to help manage and subsequently shape the credit function is one that I’m looking really forward to.”
Gardiner added: “Our new funding lines for short-term finance should lead to significantly increased volumes of business and Stuart’s decades of high-quality, institutional experience will be invaluable as we expand our credit function.”
Black and White Bridging hires financial director
Short-term lender Black and White Bridging has appointed Naeem Tabussum as its financial director.
Tabussum has 20 years’ experience in financial management and has worked in the bridging sector for over 15 years.
He has previously worked for LendInvest as group financial controller for a year and Glenhawk, where he was finance director for two years.
Damien Druce, Black and White Bridging’s commercial director said the appointment of a financial director had not been planned until later this year. However, the success of the lender which launched last April, brought the plans forward.
Druce added: “Our success last year has made us revise our longer term planning and it became clear that filling the role of financial director could not be delayed any longer. Therefore, we are fortunate to have secured someone with Naeem’s experience and skillset to fill the role.
“As Black & White continues its expansion, Naeem will be central to developing the financial infrastructure which will see us develop into a full fintech business over the next few years. I have known Naeem for some time and his understanding of the short-term lending market and how bridging lenders develop their capabilities will help propel Black and White’s progress towards joining the top table of specialist lenders.”
Tabassum said: “Black and White Bridging has come a long way in a very short period of time. It is an exciting time to join a business with so much energy and a clear plan of what it wants to become.
“I am looking forward to creating the foundations that will support its expansion and clear goal of becoming a fully-fledged leader in its field.”