Octane's Mark Posniak to step down and Richard Deacon set to join as MD of sales

Octane’s sales director Liam Lawlor will also leave the business to join an investment fund with operations in Ireland and Spain.

The team reshuffle, together with Octane’s new bridging and upcoming BTL propositions, are part of the lender’s goal of doubling its loan book to £1bn within three years.

Mark will depart the firm, having recently sold his shareholding.

The industry heavyweight — who has decades of experience working in the specialist finance sector — co-founded the specialist lender in 2017 together with Jonathan Samuels and Matt Smith.

Prior to this, the trio worked within the same senior team at Dragonfly Property Finance, now Octopus Real Estate.

“I was offered a great opportunity to capitalise on the progress that we have made since 2017,” said Mark.

“I will now take some well-earned time off before deciding on my next adventure. 

“My time at Octane has been a high point in my career and I am incredibly proud of what we have achieved together; I will of course miss Jonathan, Matt and the rest of the 3rd Gen team.”

Jonathan commented: “Mark and I have had the pleasure of working together for many years and have become good friends, as well as being work colleagues. 

“The work aspect may now be coming to a close, however our friendship will remain and I’m sure that Mark’s golf handicap will also now have the opportunity to improve still further in the coming months.”

“Mark has been instrumental in helping to build the Octane brand and has led the sales team to achieve great success and respect in the sector, achieving significant milestones along the way — for that, I will be ever grateful.”  

Meanwhile, Richard will take up his new role early next year, following his departure from Tuscan Capital — where he worked for five months. 

He brings significant experience in specialist finance to the role, having previously spent 14 years working at Masthaven Bank.

Commenting on his appointment, Richard said: “I am relishing the role ahead and excited to work alongside Jonathan and his brilliant team in building Octane to become the leading specialist lender in the property space. 

“Our plans to double the loan book to £1bn are ambitious, but achievable given Octane’s traction and its excellent low-cost variable and tracker products for bridging and refurbishments, as well as new BTL products next year. 

"I am determined to utilise my knowledge and experience to help facilitate this new goal.”

Jonathan added: “It’s third time lucky as I’ve twice tried to lure Richard to work with me over the last 10 years and have finally been able to convince him to help lead our growth journey as our new MD of sales. 

“His credentials are unparalleled and his reputation exceptional in the industry, plus he’s extremely well liked and that counts for an awful lot in a people business, such as ours.”

Also adding to the senior team is Josh Knight as sales and marketing director, after working at Octane for four years as a BDM and senior BDM.

In his new role, Josh will oversee a concerted uplift in Octane’s brand marketing during 2023 and beyond.

“I’ve had a fabulous journey at Octane starting as BDM, being promoted to senior BDM and now becoming director responsible for sales and marketing with a focus on elevating the Octane brand as part of our big vision to expand significantly as a third gen lender," said Josh.

"The refreshed team is full of new ideas and 2023 is looking very exciting for us indeed.”

Jonathan stated: “While we will always have a keen eye for talent throughout the industry, we also believe in promoting from within as this appointment demonstrates.

"Customers, potential clients and peers will also be seeing more from the Octane brand, as Josh steps up our marketing efforts from January.

"His promotion is richly deserved and I know that he will do great things in his new role."