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Shawbrook simplifies operation, merging commercial and secured divisions

Shawbrook Bank has merged its commercial and secured lending divisions to create its new Shawbrook Bank Property Finance division.

In a move that will simplify the bank’s operation, the new property finance business will run alongside Shawbrook’s consumer and business finance divisions.

The merger follows the launch of the bank’s new digital application service, E-AIP, as well as a record-breaking day of business in April, and will see Karen Bennett, formerly sales and marketing director of Commercial Mortgages, step up to take the role of managing director, Commercial Mortgages. Maeve Ward has been appointed managing director, Residential Mortgages.

The current Commercial Mortgages team will continue to service the specialist buy to let, short term loan and commercial mortgage sectors, while Karen Bennett will oversee strategy, retaining responsibility for product, distribution and sales within the market.

Stephen Johnson, Deputy CEO of Shawbrook, will head up the property finance division, while Philip George, managing director, Business Development, will continue to drive new opportunities for the bank, as the property finance division looks to galvanize the bank’s position in the market.

“We have experienced a great deal of success over the past five years and I look forward to the next step in our evolution as the Shawbrook Bank Property Finance division,” Karen Bennett said.

“Brokers lie at the heart of our business and the prospect of continuing to build a business around our principles of personal relationships, great service and a desire to constantly improve is hugely exciting for this group.”

Stephen Johnson, Deputy CEO of Shawbrook, added: “It is my privilege to work with such a committed and passionate group of people and we look forward with great enthusiasm to continuing to serve our customers and business partners.”

>> More information on Shawbrook Bank

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NB: ANY PROPERTY USED AS SECURITY, WHICH MAY INCLUDE YOUR HOME, MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

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