Andy Whelan has resigned as chief executive of Sancus Lending Group, effective from 30 June, and will be replaced by Rory Mepham as interim chief executive.
Whelan (pictured) has served as chief executive of the alternative finance group, which last month rebranded from GLI Finance to Sancus Lending Group, since 2013. Prior to that, he worked as the group’s director of lending for one year.
Mepham is currently in charge of funding and origination, having joined Sancus in January from Newbridge Poland, a firm focused on the development and acquisition of income producing assets.
Dan Walker, who currently is chief operating officer and managing director of Sancus UK, will become deputy chief executive.
He joined the group in 2018 from Lloyds Banking Group, where he was director of strategic transactions.
Sancus Lending Group specialises in property bridging and development financing from £500,000 to £10m plus throughout the UK, Ireland, Jersey, Guernsey, Gibraltar and the Isle of Man with a niche in dealing with more complex lending proposals.
Alongside Sancus’ own proprietary capital, its funding sources include a £75m credit facility with Honeycomb Investment Trust, the Sancus Loan Note Programme and Sancus Co-Funders.
In its 2020 financial results, the group reported an operating loss of £5.5m, a rise from 2019’s operating loss of £900,000.