Spring Finance CEO Gavin Diamond to depart

Diamond will depart the company on 26 May, having joined the company last year from United Trust Bank (UTB).

He worked at UTB for nearly nine years, most recently as director of bridging finance for around a year.

Before that he worked at Merchant Cash Express, an alternative finance provider, for just under a year, and also worked at Cheval Bridging Finance as director and chief executive for nearly six years.

Diamond said that the past 10 months have been “both challenging and rewarding on many levels in what has been a difficult economic environment”.

He continued: “I’m proud of the significant progress that has been made in building a strong team and taking the business forward. Despite this, for various reasons, I have decided that my long-term future lies elsewhere and on that basis feel the time is right for me to depart Spring.

“I wish Spring much success in the future and look forward to following its progress from afar.”

Bloom will take over as chief executive, having been owner and executive chairman of Spring Finance for around two years.

Before that he was the founder and chief executive of Masthaven Bank, which he was involved with between 2005 and 2020.

Bloom commented: “I would like to take this opportunity to thank Gavin for his efforts and wish him the best of luck in the future. I’m looking forward to taking over the leadership of the company.

“Spring is at an extremely exciting part of its journey, in the last 18 months it has successfully launched its bridging proposition and tripled its funding levels and staff numbers.”