Bates has over 30 years of experience in financial services marketing and sales support, including 11 years as head of marketing at Societe Generale Asset Management UK.
He will report to Sean Oldfield, chief executive officer at Castle Trust, and will be responsible for overseeing all areas of marketing communications for the firm.
Bates says: “The challenge of launching a new business like this with such a compelling proposition is something that doesn’t come along very often, so naturally I jumped at the chance to get on board.”
Oldfield adds: “Mikkel’s experience will be invaluable in getting the message out to the market that what we are doing is simple yet impactful.”
Castle Trust announced its plans to launch into the mortgage market earlier this week, subject to receiving Financial Services Authority approval.
The firm plans to offer ‘partnership mortgages’ – 20% of the value of a property in exchange for a 40% share of any increase in its value.