Andrew Townsend

Glenhawk names new CFO and finance director after record month of enquiries

Glenhawk has appointed Andrew Townsend (pictured above) as chief financial officer and Ryan Benton as finance director.

The news comes after the specialist lender originated £232m of new loan enquiries in July and August, including a record £178m in the latter.   

Andrew brings over 35 years’ experience in finance, treasury, risk and compliance, and client facing and support function operations in the FCA regulated financial services/banking sector.

He was most recently chief financial officer at DSG Group’s lending division, Unity Auto Finance.

Andrew will report directly to Guy Harrington, CEO at Glenhawk, and will be responsible for devising and implementing the group’s financial strategy.

Ryan Benton joins Glenhawk from Close Brothers, where he was senior finance business partner for the £110m turnover property finance division. 

Ryan will support Andrew, overseeing the day-to-day operational finance function.

Guy commented: “Andrew and Ryan, two highly experienced finance professionals, join us [at] a critical juncture, giving us important capabilities as we move closer to delivering on our product expansion plans, putting to work the funds secured via the JP Morgan line

“While we remain highly disciplined in our lending strategy and vigilant to the impact of further economic distress, we have seen a significant uptick in borrower enquiries in recent weeks, as the market stabilises and with the stamp duty holiday energising the residential sector.”

Glenhawk agreed the senior funding line with JP Morgan in March.

The new structure increases the maximum loan size that Glenhawk can write from £3m to £5m, and will support its imminent entry into the UK homeowner mortgage market.

Andrew added: “Having admired Glenhawk’s rise from afar, it’s hugely exciting to be joining Guy and the team to support with the next phase of the business’s growth. 

“The market opportunity for alternative lenders has continued to grow during 2020, and with the support of JP Morgan, Glenhawk is ideally placed to maintain its recent momentum.”

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