The Association of Short Term Lenders (ASTL) has appointed Vic Jannels as chief executive to replace Benson Hersch from 1 January 2020.
Jannels (pictured) has nearly 50 years’ experience in the secured lending industry, holding several senior management positions.
Jannels is executive chairman at Impact Specialist Finance and is a director of One Mortgage System (OMS).
Jannels said: “The bridging industry is at a critical point in its history.
“The market has delivered significant growth in recent years, but increased competition and economic uncertainty mean that it is more important than ever for lenders to maintain high standards of governance.
“Thanks to the magnificent efforts of Benson over the past seven years, the ASTL is the most prominent and well-respected organisation in this space, with an opportunity to unite the market and lead the way into a successful and sustainable future.
“I am both honoured and excited to have the opportunity to take the helm and shape the course of this fantastic industry.”
Hersch added: “I’m very pleased to be able to hand over the reins to such a well-respected individual to write the next chapter for this great organisation.
“I have every confidence that Vic will continue the good work of the ASTL, giving fresh impetus to our image and membership, and I wish him all the best in the role.”