Glenhawk hires former Morgan Stanley trader

The London-based property start up said Khan will drive commercial growth and focus on new products.

Commercial and residential property business Glenhawk has hired a former Morgan Stanley trader to beef up its management team.

Steven Khan has been hired by the London-based start up as its chief operating officer, with immediate effect.

The industry veteran with nearly 40 years of residential and commercial real estate experience, will be responsible for driving the commercial growth of Glenhawk, with a focus on launching new products.

The firm added that Khan will also help find new backers for the business as well as potential senior and mezzanine funding line providers.

‘Entrepreneurial background’

Khan joins from Woking-based boutique lender Step One Finance, where he was head of commercial development. In a long career, he has held a number of senior roles, including head of residential mortgage trading at Morgan Stanley and head trader at Lehman Brothers.

Glenhawk was founded by chief executive Guy Harrington in 2017, and includes Rightmove founder Harry Hill as a non-executive board director.

Harrington said: “Steven’s CV speaks for itself, with an entrepreneurial background that spans origination, product launches, investment banking and technological innovation, working for some of the world’s largest financial institutions.”

Khan said that “the UK residential and commercial property lending markets have evolved beyond recognition since I first started out,” adding that “there is a significant market opportunity for new products, particularly for regulated bridging and term.”

£100m loan target

Glenhawk said it has an active pipeline of over £35m of deals, as it looks to build on the £60.2m it has lent since launch.

In January, the business said it was targeting £100m of loans this year.