Dragonfly Property Finance chief executive Jonathan Samuels is to leave the bridging lender to set up a “new finance venture”.
Head of sales and marketing Mark Posniak will replace Samuels.
It is not yet known exactly what area of financial services Samuels’ new firm will operate in but Dragonfly has confirmed it is not in real estate and will not complete with the lender.
Samuels says: “In Dragonfly I am proud to leave behind a fantastic business full of hard working and dedicated professionals. I have no doubt the business will continue to thrive as it builds on its success to date.”
The lender, which launched in 2009 and was sold to specialist fund manager Octopus Capital in November 2013, has 22 members of staff and lent over £1.5bn in the first six months of the year.
Octopus chief executive Simon Rogerson says: “[Jonathan] has built a first class business supported by a talented team and we wish him all the best for his new venture. Dragonfly’s strategy will remain unchanged and we look forward to continuing to grow the commercial and residential property lending businesses under Mark’s leadership.”