He joins the specialist development and bridging lender from RedOak Property where he was director with a principal role in purpose-built student accommodation (PBSA) and residential projects.
Norman was previously part of Knight Frank’s debt advisory teams and was a member of the real estate origination department at Lloyds Bank.
Norman said: “I am delighted to have joined Pluto Finance who have strong institutional backing, including a new partnership with the UK’s largest private pension fund (USS).”
“This is an exciting time to join as we are launching two new competitive lending products; one focusing on build to rent (BTR) developments and one for stabilised income producing residential properties. I will also be expanding our funding to PBSA developers given my experience in this market”.
Justin Faiz, partner of Pluto Finance, said Norman was a significant hire in its expansion programme and would help it accelerate its development, bridging and investment lending over the next year.
Ultimate Finance hires regional director
Specialist asset-based lender Ultimate Finance has announced the expansion of its asset finance team with the appointment of Rachael Foulis (pictured, right) as regional director in Scotland.
The lender has provided funding of over £1.9bn to UK businesses in the last 12 months.
Foulis said: “I am delighted to be joining Ultimate Finance and to work alongside the Asset Finance team from their Edinburgh office to help keep business moving across the country. Their approach to asset-based lending through excellent service has helped create a strong reputation for them and I look forward to supporting businesses in Scotland with access to asset finance facilities.”
Richard Hamilton (pictured, left), head of sales, said Foulis’ experience and impressive track record at Close Brothers Asset Finance and Leasing meant she would be a great addition to the team.
He said: “2022 marks the lenders 20th birthday with over £10bn of funding delivered for SMEs in this time. Having secured £220m of new wholesale funding facilities in recent months, the funder has the firepower, appetite, and desire to support even more SMEs with the asset-based lending solutions they need to navigate the many challenges and opportunities that lie ahead.”