The Association of Short Term Lenders (ASTL) has confirmed the death of Benson Hersch, its former CEO.
Hersch (pictured) was the trade association’s CEO from 2012 to 2019. During that period, annual bridging completions grew from £885m to more than £4bn and membership of the association more than doubled.
Representation with the FCA, HM Treasury and other regulatory bodies also increased during his tenure.
Vic Jannels, current CEO of the ASTL, said: “On behalf of the board, I can say that Benson is the reason why the ASTL is where it is today. He took the reins of the membership and transformed it into an association that was more representative of the industry, with a clear purpose to improve standards and encourage sustainable growth of the sector.
“Even after his retirement at the end of last year, he maintained a close interest in the sector and has been of amazing support to me during my tenure. To say that he will be sorely missed is an understatement. He was an incredibly warm and insightful man, and he has played a significant role in the careers of many people within the industry. Many will be aware that Benson had been poorly for some time and our thoughts and prayers go out to his wife, Phileshia, and children.
“Let us all take a moment to mourn the loss of a good friend and outstanding colleague – and celebrate the life of a man who was such a positive influence on the lending industry.”