UK Leasing

Ultimate and Pluto expand their lending and asset finance teams – recap

Pluto Finance has expanded its London-based team with the appointment of Guy Norman as Chief Loan Officer.

He joins the specialist development and bridge lender of RedOak Property where he was a director with a lead 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 Lloyds Bank’s property origination department.

Norman said: “I am delighted to have joined Pluto Finance which has strong institutional support, including a new partnership with the UK’s largest private pension fund (USS).”

“It’s an exciting time to join us as we launch two new competitive lending products; one focusing on build-to-let (BTR) developments and the other on stabilized income-generating residential properties. I will also extend our funding to PBSA developers given my experience in this market.”

Pluto Finance partner Justin Faiz said Norman was an important recruit to its expansion program and would help accelerate its development, bridging and investment lending over the next year.

Ultimate Finance is recruiting a Regional Director

Asset-based specialist lender Ultimate Finance has announced the expansion of its asset finance team with the appointment of Rachael Foulis (in the photo, on the right) as regional manager in Scotland.

The lender has provided funding of over £1.9bn to UK businesses over the past 12 months.

Foulis said: “I am delighted to join Ultimate Finance and work alongside the Asset Finance team in their Edinburgh office to help drive business forward across the country. Their approach to asset-based lending through excellent service has helped create a strong reputation for them and look forward to supporting businesses in Scotland with access to aasset financing facilities.

Richard Hamilton (in the photo, on the left), head of sales, said Foulis’ her impressive experience and track record at Close Brothers Asset Finance and Leasing meant she would be a great addition to the team.

He said: “2022 marks the 20th anniversary of lenders with more than £10bn of funding granted to SMEs during this period. Having secured £220m of new wholesale funding facilities over the past few months, the funder has the firepower, appetite and desire to support even more SMEs with asset-based lending solutions they must meet the many challenges and opportunities that await them.