The former bank executive will lead its board and provide guidance on business matters, including strategy and corporate planning
Bridging and development loans provider Avamore Capital has appointed Eric Barnett to the position of its first non-executive chairman of the board, as part of its growth plans.
Barnett (pictured) was the chief executive of Kleinwort Hambros Bank for 11 years and has a history on the board of directors for a number of companies, ranging from financial institutions to private equity backed, non-financial service businesses.
As chairman of Avamore, Barnett will lead the board and provide guidance, inputting into a wide range of business matters, including strategy and corporate planning.
The move comes after Avamore’s particularly strong performance over the past 12 months, with the lender surpassing £500 million in total lending in 2022, with no impairments suffered. This has allowed the lender to heavily reinvest back into the infrastructure of the company.
With ambitious plans to become an annual £500 million-plus lender in the next five years, Avamore said it was committed to using its resources to prepare to be one of the largest providers of development and bridging finance to the UK SME market. It added that its decision to hire a chair demonstrated its commitment to executing on long term plans, regardless of today’s economic headwinds.
“We are delighted to welcome Eric to the board,” said D’mitri Zaprzala, chief executive at Avamore Capital. “His experience will have a huge impact on the business and the appointment aligns with our ongoing aims to accelerate our growth.
“Now, more than ever, strategic planning and careful management is critical, and having the certainty that we are prioritising corporate governance of the business puts us in a good position to deliver on our ambitions in the years ahead.”
Commenting on his appointment, Barnett said that he was excited to join Avamore at a “really exciting stage in its development.”
“It is already one of the most dynamic non-banking lenders in the country and is now poised to move into the next phase of its expansion,” he remarked. “I’m looking forward to working with the talented team at Avamore and having a hand in helping them achieve their long-term ambitions.”
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