Challenger bank Masthaven has created a new role to lead its short-term lending division, following an extension to its products.
James Bloom, currently managing director of the bank’s development finance team, will begin his position as managing director of the short-term lending division on December 1.
The role has been created following the launch of Masthaven’s extended suite of short-term lending solutions in September 2017. The bank said the extension was a response to increased demand from brokers for simple flexible short-term loans with a quick turnaround.
The role will encompass managing the bank’s bridging and development finance lending teams.
Bloom will report in to Jon Hall, managing director of Masthaven, who said the new role reflects the significant contribution Bloom made as managing director of the development finance division since mid-2016.
Prior to working at Masthaven, Bloom spent nearly 30 years as chief executive of specialist finance provider Regentsmead before leaving in 2016.
Hall said: “With 30 years of experience in property, James’ unique set of skills and deep knowledge of short-term lending are a vital part of the bank’s growth in this sector.”