Paul Thomas, who quit as chief operating officer of Mortgages PLC on March 31, is joining the board of Opus Commercial as managing director.
Mortgage Strategy exclusively revealed in December last year that Thomas, 48, was leaving the specialist lender.
On joining Opus Commercial he is to take responsibility for turning the company's commercial arm into one of the most respected business finance funding organisations in the UK.
Opus says his wealth of senior management experience will be invaluable as it quickly sets about the task of transforming its current commercial offering into a one-stop shop for business finance that caters for the needs of specialist and prime borrowers. This includes providing commercial mortgages, leasing finance, factoring facilities, hire purchase credit and bridging finance.
Under Thomas' management, the commercial arm of Opus will now be known as The Business Finance Centre.
Thomas says: “I'm delighted to be joining an innovative company that is highly regarded by lenders and intermediaries alike.”
He adds: “When I decided to leave MPLC, it was important for me to find a new venture that would benefit from my energy and experience. This I have done.
“I have been a long-time admirer of the innovative way this company does business and, therefore, I have no doubt whatsoever that I have made the right choice in deciding to join Opus. It's great to be a part of the team. ”
Malcolm Mercer, managing director of Opus, says: “I cannot think of anyone better placed to help Opus realise its potential than Paul.”
He adds: “He is widely respected in the market sectors that are relevant to the business Opus is currently writing - and the business it anticipates writing in the future. In short, his credentials are second to none.”
Opus has four distinct operating arms catering for specialist residential mortgages, secured loans, commercial and business finance as well as Bond2Let, the highly regarded all-status buy-to-let mortgage and investment protection product.