Sancus Lending Group – formerly known as GLI Finance – has appointed property expert Stephen Smith as an independent non-executive director to the board with immediate effect.
He has also been made a member of the company’s Audit and Risk Committee and the Remuneration and Nomination Committee.
Smith was previously an executive director and chief investment officer at The British Land Company, with responsibility for the group’s property and investment strategy. Prior to this, he spent many years in an array of property-focused roles, including extensive experience in governance-related roles for several real-estate focused organisations.
His property background reflects the shifting focus of Sancus Lending Group, which has recently begun a major restructuring effort.
At a shareholder meeting yesterday (11 May), the company voted to change its name to reflect its concentration on the alternative property finance sector, which has proven to be the major growth area in the business over the last few years.
“We are delighted to welcome Stephen to the board and believe that his skills, background and experience in the property sector will complement the skillsets of the existing directors, in addition to being firmly aligned with the company’s core business activities and the future strategic direction of the group,” said Patrick Firth, non-executive chairman of Sancus Lending Group.
“We are confident that Stephen will be a positive addition to the company,”
Smith added: “The company has a well-structured approach to lending with the potential to benefit from a reduction in the appetite for real estate exposure amongst traditional balance sheet lenders.
“I am very much looking forward to working with the company.”
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