LHV Bank has made changes to its SME lending business with the appointment of a new director of SME lending and expansion of the team with new relationship managers and underwriters.
The organisation offers commercial real estate investment loans and trading loans from £0.5m to small and medium-sized businesses in the UK. It is now extending its offering with a third product pillar focused on the specialist buy-to-let sector.
The bank has appointed Conor McDermott as its new director of SME lending who will also sit on the Bank’s executive committee. With over two decades’ experience in the commercial lending market, McDermott (pictured) has detailed knowledge of end-to-end lending processes, with strong leadership skills. Most recently head of lending at Monument, he was a strategic contributor to driving growth and cultivating client relationships. At LHV Bank, McDermott will leverage his industry experience to propel the bank’s lending initiatives.
Meanwhile, LHV Bank has expanded its lending team with the addition of two seasoned relationship managers: Savvas Nicola and Edwin Yamoah.
Nicola brings over 20 years’ experience in relationship management, origination, and credit from Lloyds Bank and Metro Bank. Yamoah brings a wealth of experience in commercial and corporate banking, having worked with diverse portfolios of businesses in Santander over 12 years.
Erki Kilu, CEO of LHV Bank, said: “Since gaining our banking licence in May 2023 and the inception of our SME lending activities, we have successfully increased our loan book to £70 million by the end of last year alone.
“Building on the momentum of our initial success, we have set ambitious targets for 2024. We aim to issue £200 million in new loans this year. Through new strategic leadership, talented lending teams in both London and Manchester and an extended product offering, we are well-positioned to support businesses driven by an entrepreneurial mindset.”