Mera Investment Management has made three senior appointments as it accelerates its growth strategy, aiming to double its loan book to £200m next year after recently surpassing the £100m milestone.
The specialist real estate lender has appointed Frank Pennal as non-executive chairman, taking over from Jan Fletcher OBE, who has held the role since 2022.
Pennal, a former chief executive of the property division at Close Brothers Group and currently a non-executive director and strategic advisor at Mera, joined the business in March 2024.
Pennal spent nearly two decades leading Close Brothers’ property division, during which it became one of the largest specialist lenders in the residential development finance market.
Since joining Mera, he has advised on the firm’s strategic plan, capital formation and lending expansion.
Edward Matthews, Mera’s chief executive officer, said: “Frank has been instrumental in shaping Mera’s growth strategy over the past 18 months.
“I am delighted he is taking on the role of chairman. His experience, market insight and long-standing sector relationships make him the ideal person to support the next phase of our growth and development.”
Pennal said Mera had built a strong reputation underpinned by rigorous underwriting and market expertise.
He said: “I would like to thank Jan for her exceptional leadership as chairman over the past three years.
“Her steady guidance and support in building the team have been instrumental in steering the business to its current profitable position.
“I’m excited to step into the Chairman role and look forward to working closely with Edward and the team, as we continue to build momentum into 2026 and beyond, delivering value for both borrowers and capital partners and advancing the company’s next phase of growth.”
Mera has also strengthened its origination and risk teams with two senior hires from Commercial Acceptances, the specialist lender within Close Brothers Group.
Leo del Rosso (pictured) has joined as associate director, bringing experience in residential and mixed-use lending.
He began his career at Close Brothers in 2016 and went on to originate more than £250m of lending after progressing to senior lending manager at Commercial Acceptances.
He was named Trailblazer of the Year at the 2024 Property Week RESI Awards and shortlisted for Estates Gazette’s Rising Star Award.
Alasdair Houghton has joined as chief risk officer, bringing more than 20 years of property finance experience across residential, mixed-use, commercial, PBSA and senior living.
He previously spent seven years as head of property finance at Bank Leumi and has held senior roles at RBS, Northern Rock, Atelier Capital Partners, Cynergy Bank and Commercial Acceptances.
Matthews said: “Leo and Alasdair bring exceptional sector knowledge and leadership experience.
“Their appointments significantly strengthen our origination, underwriting and risk management capabilities as we work towards doubling our loan book and supporting an expanding range of high-quality property projects across the UK.”
