Adrian Bloomfield, chief executive officer of the Association of Short Term Lenders, has resigned from his position.
The trade association is seeking a replacement and Bloomfield will continue in his role until a successor is found.
He says: “Having acted as CEO of ASTL since its inception in 2007, the time has come for me to stand down and hand over to someone else.
I will continue in the role for a short period to achieve a smooth transition.
“I wish good fortune to ASTL, its members and associate members and all those connected to the short-term lending industry.”
Alan Margolis, head of bridging at United Trust Bank and member of ASTL’s executive committee, adds:”The committee wishes to thank Bloomfield for all his hard work and commitment to ASTL over the last few years. The short-term sector is immeasurably better placed to face market challenges, particularly regulatory challenges, due to his efforts.
“The committee looks forward to continuing to work with Bloomfield while a successor is found and wishes him well for the future.”
Precise Mortgages recently quit as a member of the ASTL, claiming there are too many trade bodies representing the bridging sector.