Earlier this year, Arbuthnot Latham & Co launched its asset-based lending division led by Tim Hawkins.
Arbuthnot Specialist Lending will focus on providing short-term secured lending solutions to professional property businesses and entrepreneurs.
The new management team will join the group on 1st August 2018 with a core of six employees.
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The new division’s costs will be an organic investment in the current year, and Arbuthnot expects the business to reach monthly break even and become fully profitable during 2020.
“The asset-based lending business has commenced trading ahead of schedule,” said Henry Angest, chairman and chief executive at Arbuthnot.
“We have also reached an agreement with a management team to establish a specialist secured lending business.
“Given the continued growth and diversification of the group, I believe our long-term prospects are encouraging.”
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