Saxon Trust names new head of risk and credit

Saxon Trust has appointed Stuart Munden (pictured above) as its new head of risk and credit.

The announcement follows the expansion of the specialist lender’s funding lines.

Stuart previously spent over 35 years with Standard Chartered Bank in various credit and risk-related roles, including over 10 years as regional head of country cross border risk for SE Asia and Latin America, before becoming head of strategic investments risk for the bank.

Following this, he joined Banyantree Bank to manage and restructure its portfolio of bridging loans.  

There, he helped develop a network of new introducers, in addition to sourcing and structuring property finance transactions.  

In his new role, Stuart will work with the Saxon Trust board and the lender’s institutional funders, managing the entire credit and risk function within the business. 

“Having enjoyed a long and successful career with a major blue-chip bank, I’m excited to be joining a progressive specialist lender just as it’s entering a significant growth phase,” said Stuart.

“The opportunity to use my experience to help manage and subsequently shape the credit function is one that I’m looking really forward to.”

Stuart will also be working very closely with the new business team and co-founder and director, Andrew Gardiner. 

Andrew added: “We are delighted Stuart has joined us in the business to manage the credit and risk function as we enter an exciting growth phase. 

“Our new funding lines for short-term finance should lead to significantly increased volumes of business, and Stuart’s decades of high quality, institutional experience will be invaluable as we expand our credit function.” 

Additional hires are expected this year and beyond as originations grow across its development and short-term finance divisions.

Saxon Trust specialises in bridging and development loans from £100,000 to £5m over periods of three to 36 months, secured against residential properties and construction projects in England and Wales. 

It offers mezzanine and stretched senior finance, developer exit and VAT loans, in addition to its core bridging, refurbishment, extension and ground-up development loans.

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