David Hill, former Portillion’s chief financial officer, has been appointed CEO.
Barry Searle remains as chief operating officer.
Senior management continue to be supported by the board, led by chairman Gerald Gregory.
Gregory says: “We wish Stephen the best, and would like to note his enormous contribution over the years and thank him for all his inspiration and hard work.
“We are fortunate in having a strong and experienced management team here at Portillion. Hill has accepted the role of CEO and will be leading the management team into the next stage of our development.”
Knight revealed in January that Q1 2011 would be a make or break time for the would-be lender as it looked to secure £110m of funding.
Mortgage Strategy wishes him well.