Former Cogress chief financial officer Paul Israel has joined Magnet Capital as co-founder and chief financial officer ahead of its launch into the broker market on October 22.
Israel was part of Cogress from its foundation in 2014 until 2017, during which he created its business plan, helped Cogress launch its first 35 property projects and raised £115m of investors equity. Previously he trained as a chartered accountant before working at the Virgin Group Head Office and in several high growth entrepreneurial businesses.
He said: “Magnet Capital are forming a very special and dynamic team. It is a wonderful and exciting business to be joining.
“Together with Sam and Ashley we have built a very clear vision for entering the development finance market and I am delighted to be a founding part of it.”
Sam Howard, managing director, said: “It is a real coup to have Paul on board. His financial expertise is essential to the growth of Magnet and he comes with a deep understanding of residential development projects.
“He was instrumental in the growth of several successful start-up businesses, including Cogress, and we are delighted that he is now part of the Magnet family.”
Magnet Capital open its doors to the broker market on October 22.