Peer-to-peer property lender hires former Nationwide exec

Relendex has hired a number of senior executives as it targets £100m of lending this year.

Relendex has poached a senior executive from Paragon Bank as the peer-to-peer property lender targets £100m of loans this year.

Fintan O’Riordan joins the business as director of lending from FTSE 250-listed Paragon, where he was head of development finance, and was responsible for setting up a new lending team at the bank.

Commercial and residential property business Relendex describe O’Riordan as an “experienced property banker”, who worked for a decade at Nationwide, the UK’s largest building society, and prior to that held senior lending roles at Bradford & Bingley and Barclays.

The move follows Relendex beefing up its management with a number of senior hires in recent months including new commercial director, Paul Sonabend, new business development managers, and a new underwriter.

The firm, launched in 2013, said the hires are in line with its target of hitting “£100m in new loans in 2019”.  

Relendex chief executive Michael Lynn said: “Fintan has an impressive track record and brings with him strong leadership qualities together with a wealth of experience, which will be key factors in helping us towards our ambitious 2019 target.”

O’Riordan said he was joining the firm at a time it planned “to significantly increase the level of its loans this year”. He added: “I am confident that my experience and know-how will help the firm achieve the ambitious growth it is targeting.”

Last November, Relendex said it had signed a partnership with an unnamed global institutional investor worth a minimum of £72m over two years.