ALTERNATIVE lender Sancus BMS Group has announced Graham Sheward as managing director of its Isle of Man business, while former managing director Michael Hennessy’s moves into his new role as chairman.
Sheward (pictured) will be responsible for leading the company’s business strategy and growth, and he will also become a member of the group’s executive committee.
Sancus BMS Group – which owns the Sancus Funding peer-to-peer platforms – has provided more than £1bn of funding to small- and medium-sized enterprises (SMEs) over the past four years. In recent years, it has also expanded into the Irish property market.
“The alternative finance market has an increasingly important role to play in meeting the financing needs of businesses, entrepreneurs and developers, especially in today’s economy,” said Sheward. “The opportunity to join a growing and dynamic team in this sector, with such strong lending principles and access to multiple layers of funding is very exciting.
“Sancus is committed to becoming a leading player in the asset-backed alternative finance market and I feel the current economic climate creates new opportunities for our clients and the group. I am looking forward to being an integral part of the senior management team.”
Sheward has more than two decades of experience managing international financial services businesses in London, Guernsey, Ireland, Mauritius, Singapore, South Africa and the Isle of Man.
He has spent the past four years as managing director for SGG Global (Mauritius), and prior to this he was country corporate director for Barclays International Banking in Mauritius, where he implemented and managed the Barclays Africa Group cross-border lending strategy. Sheward has also acted as a managing director at both Zurich Bank International and Close Brothers Offshore Banking Division.
“We are delighted that Graham has decided to join the business,” said Andrew Whelan, chief executive of Sancus BMS Group. “His experience and background is of real benefit to the group and will support our ambitious plans for growth. He has deep technical knowledge of the lending market and brings with him experience of lending across a range of jurisdictions.”
“I would also like to thank Michael for his commitment to Sancus during his tenure and look forward to him remaining close to the business in his role as chairman.”