Regentsmead won’t directly replace its departed chief executive James Bloom – as chairman Richard Ross and head of lending Ashley Ilsen will jointly lead the business.
Bloom left to head up Masthaven Bank’s development finance division after 30 years at Regentsmead.
Ilsen said it will be “business as usual” for the lender, while Ross added that Bloom represents one of the many successful young entrepreneurs the business has trained in its 80 year history.
Ilsen said: “A direct replacement won’t be made. Myself and Richard Ross will be working together to continue the great work which James has done for the firm.
“Going forward it’s a very exciting time for us with some news products to be announced shortly.
“In the meantime it’s business as usual for us, and following on from the most profitable year in the company’s history we’ve been tasked with growing the loan book and further expanding our reach.
“It’s a really exciting time for the business, we’ve got a great team here and I have no doubt we will continue to go from strength to strength.
“On a personal note it’s been great working with James over the last few years and I have no doubt our paths will cross in the future.”
Bloom created Regentsmead’s short-term lending department before becoming a director and then chief executive.
Ross said: “In its 80 year history, Regentsmead has trained many young people to become successful entrepreneurs.
“James Bloom is one such person who after nearly 30 years with Regentsmead is moving on to a new challenge.
“Regentsmead has a number of very bright and able executives who are working with myself to ensure the outstanding service, flexibility and availability of capital from our internal funds will still be present.”