Alan Margolis joins Avamore Capital

Alan Margolis has joined Avamore Capital as a director, to help lead the bridging lender through its next phase of expansion and shape its long-term strategy.

He joins the business’s senior leadership team from Masthaven Bank — where he was director of bridging — to work alongside head of underwriting and principal Philip Gould, and co-founders Michael Dean and Zuhair Mirza.

Before Masthaven, Alan was director of bridging at United Trust Bank for almost seven years.

His experience at the two major specialist lenders is set to help guide and scale Avamore in a sustainable manner.

In his new role, Alan will be at the helm of Avamore’s management team and be a member of the board and credit committee.

He will develop and execute strategic initiatives while heading up all commercial aspects of the business and identifying opportunities to build upon its infrastructure.

His remit will also cover a broad range of areas — including systems, processes, and technology —where the lender’s two main priorities will be to deliver enhancements to brokers, clients and service providers, and ensure the reliability and integrity of the business in the longer term.

“It did not take much persuasion by Zuhair and Michael for me to agree to join them and be part of the next step in Avamore’s journey to become a leading lender in our chosen markets,” said Alan.

“The ambition, energy and incredible quality and drive of the team are a fantastic platform to grow our business.

“Tremendous opportunities are available to specialist lenders that have vision and are prepared to back their staff and broker partners.

“As part of the executive management team, I will use all my experience and industry connections to achieve and even exceed our ambitions.”

In January, the business announced it had reached £250m of total lending.

In an exclusive filmed interview with B&C, Alan shared that the company’s lending ambition for 2021 is £100m, which he believes it will “comfortably” surpass.

“We’re going to be looking [to do] significantly more in 2022,” he divulged.

To achieve that, he said the business will increase its profile and presence in the market, improve and enhance its products and processes, and utilise the recent expansion of its team.

Some 75% of Avamore’s management staff were hired for entry level positions at the firm and have been promoted upwards.

Alan will help grow, train, and guide the company’s team of 25 so that it can achieve its objectives.

“We have known Alan for many years and are absolutely delighted to have him join the senior leadership team,” commented Zuhair.

“He brings a wealth of industry knowledge and relationships with him, and we are excited for him to apply his expertise to fast-track our growth further.

“Under Alan’s leadership, we believe this team will go from strength to strength, and we expect that Avamore’s lending volumes will increase substantially.

“Alan’s appointment is an important step in Avamore’s evolution as we look to increase market coverage, drive efficiencies, and deliver outstanding customer service for our borrowing and broking partners.”

The announcement comes ahead of another senior hire at Avamore which is set to be revealed by B&C in October — another move that underpins the lender’s expansion plans.

“Alan’s experience and knowhow, combined with his shared cultural values, make his appointment something for everyone in the company to be really excited about,” added Michael.

“With other forthcoming senior appointments, this will further cement our position as a major player in the development and bridging space and act as a springboard for the long-term growth of the company.

“On a personal level, Alan’s a really good guy and we are all looking forward to working with him.”

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