Peer-to-peer bridging lender SoMo has named Jamie Jolly as its managing director.
Jolly (pictured) has more than 20 years’ experience in the lending sector and joins from Revverbank where he was head of real estate.
He was also previously head of the commercial specialist team at Together and had been with the business for nearly 15 years.
Jolly will focus on supporting clients and growing the platform’s specialist lending products.
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“The past twelve months have been challenging for the industry, but I’m optimistic about the possibilities of 2021 and I want us to be known as the relationship-focused lender which truly reflects the market we represent,” Jolly said.
“It is crucial that we rally together as an industry, remaining open, transparent and collaborative. At SoMo we want to advocate for and lead with a culture of unity.
“With this in mind, I’m enjoying meeting more of the brilliant brokers and lenders who are seeking alternative specialist loans and working alongside them to harness new opportunities.”
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Louis Alexander, chief executive of SoMo, said Jamie’s experience will be “invaluable as we look to grow in 2021.”
“His focus on the personal touch aligns with my vision for SoMo, and alongside his breadth of knowledge of the sector makes him a great fit to not only support the businesses evolution but our customers through the important year ahead,” Alexander said.
“We pride ourselves on being a safe, sensible and secure lender and I know that with Jamie leading the team we will continue to lend this way.”
SoMo rebranded from The BridgeCrowd at the end of last year at the same time that it announced investment funding of £300m backed by Deutsche Bank.
SoMo – which stands for Social Money Limited –also reported that the business has passed £132m in lending since inception, and made a net profit before tax of £3.7m for the 2019/20 financial year.