Sancus BMS hires Metro Bank’s Bristow to bolster credit team

SANCUS BMS Group has hired Metro Bank’s Andrej Bristow as credit manager to support its peer-to-peer property finance platform Funding Knight ahead of a long-awaited re-brand.

The alternative finance services provider, owned by Aim-listed GLI Finance, said on Wednesday that Bristow will be responsible for credit assessment across a broad range of funding requirements.

Bristow joins Funding Knight from challenger lender Metro Bank, where he held the role of commercial analyst, managing risk within the portfolio of clients. Prior to that, he worked at Santander, RBS and ANZ Bank.

“The alternative finance space is improving the accessibility of much needed competitive finance to businesses,” said Bristow. “Sancus ensures finance is provided sensibly and securely to these businesses whilst also guaranteeing the continuity of funds that investor confidence brings. I am delighted to be part of the business at this exciting stage in their development.”

Funding Knight was launched in 2011 but fell into financial difficulties until GLI Finance bought the platform out of administration just over a year ago.

Funding Knight achieved full authorisation from the Financial Conduct Authority earlier this year and has recently been moved by GLI Finance into the Sancus BMS Group, operating alongside Sancus Finance, the specialist working capital finance provider.

Funding Knight shall be re-branded to Sancus Funding in 2018, to bring it fully into the Sancus BMS family.

Read more: GLI Finance’s losses widen

GLI Finance chief executive Andrew Whelan previously told Peer2Peer Finance News that Funding Knight is being “realigned” towards asset-backed lending, particularly bridging and development finance.

“We want to do bridge funding and development – whether bridging to a sale or a refinance,” said Whelan. “It’s an area where the banks don’t have the appetite, and alternative finance is meeting a real need.”