S&U PLC has promoted Jack Coombs (pictured) to chief operating officer, reflecting the group’s confidence in Aspen’s performance and future growth.
Coombs, who co-founded Aspen Bridging in 2017, will take on wider operational responsibilities across the group while continuing to play a hands-on role in Aspen’s trading activity.
His remit will include driving operational efficiency, innovation and funding strategy, complementing the existing senior leadership team.
S&U PLC, parent company of bridging lender Aspen and motor finance provider Advantage Finance, confirmed the appointment in a statement to the London Stock Exchange on 8 October.
Coombs said: “This promotion is a vote of confidence from the Group board, particularly Anthony Coombs our chairman and Graham Coombs our deputy chairman, not just in myself but also in the important contribution that Aspen is making, both current and future, and our ambitions within the bridging sector.
“Aspen now makes up approximately a third of Group profit and we are confident that, alongside Advantage Finance, both businesses will continue to improve and grow in a sustainable and responsible way.
“I very much enjoy the relationships in the industry, getting neck deep in deals, and that is not going to change.
“I am very excited about the future prospects for Aspen and look forward to helping drive that alongside Ed Ahrens, Aspen’s CEO, and the rest of the senior management team.”
Aspen, which specialises in bridging finance, surpassed £750m in total lending in August and is targeting £1bn by 2026.
