LHV Bank boosts SME lending with strategic appointments
LHV Bank has strategically reinforced its SME Lending business with the appointment of a new director of SME Lending and expansion of the team with new relationship managers and underwriters.
LHV Bank offers commercial real estate investment loans and trading loans from £0.5m to small and medium-sized businesses in the UK. It is now extending its offering with a third product pillar focused on the specialist buy-to-let sector.
LHV Bank has appointed Conor McDermott as its new director of SME Lending who will also sit on the Bank’s Executive Committee. With over two decades’ experience in the commercial lending market, McDermott brings detailed knowledge of end-to-end lending processes, combined with strong leadership skills. Most recently head of lending at Monument, where he was a strategic contributor to driving growth and cultivating client relationships, he has built a significant and deep professional network in the property and healthcare sectors in particular. At LHV Bank, McDermott will leverage his extensive industry experience to propel the Bank’s lending initiatives.
Alongside the appointment of Conor McDermott, and in a strategic move to fortify its lending capabilities, LHV Bank has expanded its lending team with the addition of two seasoned relationship managers: Savvas Nicola and Edwin Yamoah.
Savvas Nicola brings over 20 years’ experience in relationship management, origination, and credit from Lloyds Bank and Metro Bank. His understanding of the unique financial needs of SMEs makes him a valuable addition to LHV Bank’s relationship management team.
Edwin Yamoah brings a wealth of experience in commercial and corporate banking, having worked with diverse portfolios of businesses in Santander over 12 years. He has proactively built and managed successful relationships with numerous SMEs and mid-market corporate businesses across a range of sectors to provide tailored financial solutions.
The new appointments provide a robust foundation for further expansion in lending to SMEs and real estate businesses, as the Bank extends its product offering into the specialist buy-to-let sector.
Erki Kilu, CEO of LHV Bank said: “Since gaining our banking licence in May 2023 and the inception of our SME lending activities, we have successfully increased our loan book to £70m by the end of last year alone.”
“Building on the momentum of our initial success, we have set ambitious targets for 2024. We aim to issue £200m in new loans this year. Through new strategic leadership, talented lending teams in both London and Manchester and an extended product offering, we are well-positioned to support businesses driven by an entrepreneurial mindset.”
