Octane Capital rejigs senior team

Posniak is a co-founder of the business and will be leaving by the end of the year after selling his shareholding.

Deacon joins from Tuscan Capital, where he was sales director. Before that he spent 13 years at Masthaven Bank as sales director, and two years as national account manager at Personal Touch Packaging.

Alongside the recruitment of Deacon, Josh Knight is being promoted to sales and marketing director. He has spent four years as senior business development manager at Octane, and replaces Liam Lawlor who is leaving the business.

An ‘exceptional’ reputation

Jonathan Samuels, chief executive at Octane Capital, said that he had previously tried to recruit Deacon to work with him and praised Deacon’s “exceptional” reputation, adding: “He’s extremely well liked and that counts for an awful lot in a people business such as ours.”

Deacon added: “Our plans to double the loan book to £1bn are ambitious but achievable given Octane’s traction and its excellent low-cost variable and tracker products for bridging and refurbs as well as new buy-to-let products next year.”

The lender has previously noted that its current loan book is worth around £500m, and it plans to double this within three years.

Last month, Octane Capital relaunched its bridging and refurb range.