City of London Group plc has appointed Mark Bampton as managing director of Property & Funding Solutions, a recently-launched business providing commercial bridging, refurbishment and development loans.
A wholly-owned subsidiary of City of London Group, PFS aims to originate bridging and short-term property-backed secured lending solutions in the UK that are competitive on terms, features and price.
The business is also seeking to lend predominantly against good quality commercial and residential property in England and Wales, to be the specialist lender of choice among prominent brokers, and to attract repeat business from key industry intermediaries.
Mark has more than 30 years’ expertise in SME and commercial lending and credit, and has built an extensive network of business and professional relationships during this period.
He has held a range of senior executive roles within Nationwide Building Society’s commercial division. Most recently he was national head of commercial property finance, with overall responsibility for new lending and management of the commercial property loan book.
Michael Goldstein, CEO of COLG, said: “I am delighted that Mark has come on board to lead PFS. He has a track record as an innovator, a business creator and a leader of growing businesses across lending, insurance and deposit products, and his wealth of experience will be a huge asset for the company.”
Mark added: “It is clear that many businesses are frustrated by lenders who still have cumbersome and outdated systems, with an impersonal service that doesn’t cater to the needs of their customers. We will be offering something different. By working with PFS, you will have access to our senior decision makers and the support needed to finance your growth.”