In his role, Coombs will include contributing to operational efficiency, innovation and funding across the group, alongside a continuing direct role with Aspen Bridging.
The role aims to “complement the existing responsibilities of the senior leadership team”.
Coombs has been director of Aspen Bridging for around nine years and has been a director of S&U PLC since 2021.
Aspen Bridging was founded in 2017. It has passed £750m in total lending since its inception and is targeting £1bn in 2026.
Coombs said: “This promotion is a vote of confidence from the group board, particularly Anthony Coombs, our chairman, and Graham Coombs, our deputy chairman, not just in myself but also in the important contribution that Aspen is making, both current and future, and our ambitions within the bridging sector.
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“Aspen now makes up approximately a third of group profit and we are confident that, alongside Advantage Finance, both businesses will continue to improve and grow in a sustainable and responsible way.
“I very much enjoy the relationships in the industry, getting neck deep in deals, and that is not going to change. I am very excited about the future prospects for Aspen and look forward to helping drive that alongside Ed Ahrens, Aspen’s CEO, and the rest of the senior management team.”
Aspen Bridging recently announced that it is aiming to lend £1bn this year.
