Alan Margolis leaves United Trust Bank
United Trust Bank head of bridging Alan Margolis has left the lender after over six years in the role.
The former Cheval chief executive joined the bank in March 2010 and has over 20 years in the short-term lending sector.
Margolis is widely respected in the industry having helped UTB become a major player in both the regulated and unregulated space.
Harley Kagan, group managing director of United Trust Bank, said: “After six and a half years at the Bank Alan has decided to pursue other opportunities and we would like to wish him every success for the future.
“UTB’s bridging business is a now a mature operation with a well-established team, market position and a wide range of products. We continue to develop new products, invest in our people and are committed to providing brokers and customers with an unrivalled service.”
Benson Hersch, chief executive of the Association of Short Term Lenders, praised Margolis for his time at UTB and wished him the best for the future.
He said: “I have known Alan for a long time now having worked with him at Cheval and the ASTL. Alan is a great representative of the short-term lending industry and I hope to see him back in the sector soon.”
Rival lender Jonathan Sealey of Hope Capital added: “Alan has done an excellent job at UTB and has been a keen advocate of bridging in the wider market.
“It is a shame to see him leave but hopefully he will be back in the market soon.”