Ortus Secured Finance announced today that Jon Salisbury will assume the role of chief executive officer, succeeding Richard Beenstock who has led the company since its inception in 2013.
Salisbury has served as the managing director since the company’s launch and has been instrumental in its growth.
Ortus has provided loans amounting to approximately £1bn without incurring capital losses under the leadership of Salisbury and Beenstock.
Initially a specialist bridging lender for pubs and hotels, Ortus has diversified its portfolio and expanded its offices to Belfast, Glasgow, and Manchester.
The announcement comes after Ortus was acquired by Kvika Banki hf, an Iceland-based commercial bank, in February 2022.
Gunnar Sigurdsson, chairman of Ortus, said: “The strength of the Ortus business model is a testament to Jon and Richard.
“Ortus is well positioned for future growth, particularly as part of the Kvika group. I have great faith in Jon’s leadership capabilities coupled with the formidable team he has assembled, to propel Ortus to new heights.”
Salisbury added: “It has been a privilege to work alongside Richard for many years, and we take pride in the business we have jointly created.
“While Richard is stepping back from day-to-day operations, we are fortunate that he will continue to serve on our Board and credit committee.
“Since becoming a part of the Kvika group, we have experienced exceptional growth, and I am looking forward to the next phase of our journey.”
