Close Brothers Property Finance has announced that Rowland Thomas, managing director, will retire at the end of July following a 38-year career with the lender.
He will be succeeded by Daniel Joyce, currently deputy managing director, who has been with the business for over 25 years.
Thomas has overseen the growth of the lender’s loan book to nearly £2bn, establishing it as a key provider of development finance to SME housebuilders.
In addition to leading a team of 100, he has personally managed a large and varied portfolio across residential and commercial projects throughout his tenure.
Phil Hooper, chief executive officer of Close Brothers Property Finance, said: “Rowland has made an enormous contribution to the growth and reputation of Close Brothers Property Finance.
“His strategic leadership and deep market knowledge have played a pivotal role in shaping the business we are today.
“I would like to thank him for his outstanding service over the years. Although Rowland will be greatly missed, we are fortunate that Daniel will be stepping into the managing director role.
“With his extensive experience and deep understanding of the SME market he brings both continuity and new perspective to the role.”
Thomas said: “It has been hugely rewarding working alongside such a high calibre, dedicated and driven team at Close Brothers Property Finance, helping to support SME housebuilders through the ‘good times’ as well as some extremely challenging periods.
“It has also been a great pleasure and fascinating education to work with so many outstanding developers, investors and professionals over my career. In many ways, the business I leave is very different to the one I joined.
“However, the exceptional levels of service it provides to customers and its unwavering commitment to supporting and, increasingly, advocating on behalf of SMEs remain the same.
“I have every confidence that Daniel and his highly experienced team, alongside Phil’s strong leadership of the business, will ensure that the business remains both a major supporter of and standard bearer for the sector.”
Joyce said: “It’s an honour to take on the role of managing director at such a pivotal time for the business, as we continue our unwavering support of SME housebuilders and grow and diversify into new markets like Build To Rent.
“Having worked closely alongside Rowland for over two decades, I’ve learned the value of his relationship-led approach to lending, and I look forward to continuing in that vein, whilst driving the business forward.”
