ASSETZ Capital has strengthened its relationship team in Scotland to expand its deal origination in the country.
The peer-to-peer business lender has promoted Fraser Clark (pictured) to relationship director from regional support director for the North. It also hired Lloyds Banking Group’s Colin Mottram as senior relationship manager in Scotland.
Both positions are based in the firm’s Edinburgh office.
Clark’s promotion to relationship director will see him with an increased focus on deal origination and execution, Assetz said.
“P2P lending has become increasingly important as a funding stream for businesses and developers. With traditional funders less willing to provide support, Assetz has established itself as a prominent lender in Scotland,” Clark said.
“I am excited to continue working with Assetz in my new role, looking to help boost the presence of the company in Scotland, and helping to grow the nation’s economy by providing funding to ambitious property developers and small and medium enterprises (SMEs).”
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Mottram’s new role will see him be responsible for securing and completing deals, as well as forging and building relationships with new and existing clients.
His appointment to Assetz comes after an eight year stint within the Lloyds Banking Group where he was most recently relationship manager in its business bank.
“There is tremendous confidence and borrower appetite in Scotland, which makes it an exciting time to be joining Assetz Capital,” Mottram said.
“Businesses across Scotland and the rest of the UK have struggled with the lack of finance from banks, and I’m happy to be able to play a part in closing the funding gap.”
Founded in 2013, Assetz has facilitated £850m worth of investment into UK business and property development, supporting the construction of over 4,000 houses.
Over the past year Assetz has lent £300m and financed one per cent of all new houses constructed in the UK, it said. The company has offices in London, Edinburgh, Manchester and Fleet.