Assetz Capital has named Andrew Charnley as managing director to take charge of the lending side of the business.
He will oversee a team of 130 people at the peer-to-peer lender, reporting to Assetz Group chief executive Stuart Law.
Charnley (pictured) was most recently at specialist lender Together.
“Assetz Capital has consistently been a market leader in the UK alternative lending sector, providing outstanding returns to investors for over 20 years, while supporting thousands of UK small – and medium-sized enterprises (SMEs) and financing billions of pounds worth of new housing,” Charnley said.
“The business’s pioneering approach, marrying strong returns with a focus on sustainability and social impact, while creating more flexible and accessible platforms for real estate investment has been a truly innovative market force for institutional and retail investors alike.
“At the same time, Assetz Capital has provided a desperately needed alternative to high street lending which has underserved crucial economic sectors over recent decades. I am excited to join the team at a critical moment in Assetz Capital’s growth story, as we look to continue to drive market share and innovation, consolidating our position as one of the UK’s top specialist lenders and a business which is growing ever more ambitious in terms of the impact it makes on society.”
It comes as the Assetz Group targets more than £1bn of lending to SME housebuilders each year.
Law said attracting industry experts would help.
“We have emphatically re-stated our purpose this year at group level, aiming to drive ever increasing social impact, especially through funding house builders to tackle our nation’s housing crisis and growing our support for the care sector,” he said.
“Andrew will play a huge role in taking Assetz Capital to the next level of growth as we look to continue delivering credible returns to our retail and institutional investors, and set our sights on growing our influence in the wider housing market.
“Specifically, we have set our long-term sights on revitalising our nation’s SME housebuilding sector by funding as much as a quarter of all SME built homes in time.
“Andrew will lead our efforts across Assetz Capital, whether that’s developing and delivering new bespoke financial products for our borrowers, or continuing to pioneer new ways for private and institutional investors to invest in diversified real estate portfolios with more flexibility, less risk, and the ability to see their capital make a tangible social impact.”