Octopus has announced that Jonathan Samuels, founder and CEO of its property finance arm, Dragonfly, has left the company.

Jonathan, who sold Dragonfly to Octopus, has stepped down to launch a new finance venture, and will be replaced by Mark Posniak, who was previously Head of Sales and Marketing.

Simon Rogerson, CEO of Octopus, said he wanted to thank Jonathan for all his hard work.

“He has built a first class business supported by a talented team and we wish him all the best for his new venture,” said Simon.

“Dragonfly’s strategy will remain unchanged and we look forward to continuing to grow the commercial and residential property lending businesses under Mark’s leadership."

Jonathan Samuels added: “In Dragonfly I am proud to leave behind a fantastic business full of hard working and dedicated professionals.

“I have no doubt the business will continue to thrive as it builds on its success to date.”
Mark, who joined the business five years ago, will take up the role of Managing Director and also offered his thanks to Jonathan.

“It's a sad day for me personally as I have worked closely with Jon since the very early days of Dragonfly,” said Mark.

“He’s a great bloke and, in Dragonfly, has spearheaded one of the most successful alternative finance providers to date, leading the company through a series of notable landmarks.”

Those landmarks include gross lending in excess of £1.5bn, a loan book of over £500m and over £1bn in redemptions.

Jonathan also won the Outstanding Contribution Award at the 2014 Bridging and Commercial Awards.

“We are looking forward to building upon the success that we've enjoyed over the past six years,” added Mark.

“The team at Dragonfly continues to grow, our products continue to become more innovative and our dedication to delivering exceptional service remains the number one priority.”

Jonathan’s new venture is not involved with real estate and will not compete with Dragonfly.