Newly-authorised Masthaven Bank has appointed James Bloom as managing director of its development finance division, effective 6 July 2016.
Bloom joins from specialist development finance operator, Regentsmead Group where he was chief executive, having worked for the organisation for 29 years.
During his tenure he created the short-term lending department, became director then chief executive.
Masthaven Bank plans to create a specialist development finance division when it fully launches later this year. This forms part of its lending strategy to deliver tailored products to underserved markets after it was granted a full banking licence in May.
Masthaven Bank will offer a range of online fixed-interest savings products and specialist second charge mortgages.
Masthaven Bank managing director Jon Hall says: “It is a very exciting time as we are set to launch as a retail bank.
“Our opportunity comes from creating products focused on individuals’ needs that are delivered brilliantly.
“We are delighted to have attracted James, as one of the best known players in this marketplace, and to have persuaded him to join our exceptional, and growing, leadership team.”
Bloom adds: “After nearly 29 years at Regentsmead it would have taken something incredibly exciting for me to leave.
“I could see this was the very special business which I would be delighted to join. We are going to be re-launching our development and refurbishment products – combining low cost of funding with a five star service to create a market-leading proposition.”