Bridging and development lender Glenhawk has appointed Steven Khan as chief operating officer, who was formerly head of residential mortgage trading.
Khan (pictured) has nearly 40 years of residential and commercial real estate experience. Effective immediately, Khan will be based in London and report directly to chief executive Guy Harrington.
Harrington said: “Steven’s appointment is another major statement of our ambition as we build a senior team of highly experienced individuals who can provide the leadership required as we continue on our upward growth trajectory.
“His CV speaks for itself, with an entrepreneurial background that spans origination, product launches, investment banking and technological innovation, working for some of the world’s largest financial institutions.”
Khan will also work closely with Harrington and Nick Hare, head of strategy and capital markets, as Glenhawk engages with potential senior and mezzanine funding line providers alongside new equity backers for the business.
He joins Glenhawk from boutique lender Step One Finance, where as head of commercial development he was responsible for the successful launch and implementation of its unsecured, revised second charge and bridging products and the development of a new servicing technology platform.
Prior to this he was sales director at business process outsourcing provider and software house Target Group, where he oversaw in-deal services to London private equity funds and investment banks.
Khan added: “The UK residential and commercial property lending markets have evolved beyond recognition since I first started out, and in Glenhawk I see a company that has the platform and people to continue driving positive change.
“There is a significant market opportunity for new products, particularly for regulated bridging and term and I am excited by the opportunity to leverage my relationships and depth of knowledge to support Guy and the team in the next stage of its growth.”
His financial services experience includes roles at Morgan Stanley and Lehman Brothers, where he was head trader, mortgage trading desk, as well as at Paratus AMC, Private Label, Platform Home Loans and GMAC.
Having generated £77m of enquiries in June, Glenhawk has an active pipeline of over £35m of deals, as it looks to build on the £60.2m lent since conception.