News in brief - 11 April 2024

SmartSave has doubled last year’s milestone by reaching a total of more than £2bn in direct deposits. After launching as Chetwood Financial’s saving proposition in 2019, SmartSave reached £1bn in direct deposits in March 2023 and providing customers and investors with the opportunity to reverse the real-term deprecation of their capital due to record inflation in recent years. SmartSave has offered inflation-beating returns since October 2023. Following its partnership with the UK cash deposit platform, Flagstone, in February 2023, the combined total of money held of deposit with SmartSave has passed £2.7bn. With an estimated £750m paid in maturation funds and an additional £800m reinvested, the aggregate sum deposited directly with SmartSave has reached £3.5bn, rising to £4.5bn when factoring in the Flagstone partnership.

Hampshire Trust Bank (HTB) has appointed Anthony Gorman is bridging business development manager (BDM) for the North of England. The lender said that his appointment is a move which sees the bank grow its presence in the region to offer local lending via a dedicated BDM. Gorman will be tasked with looking after key accounts, as well as building relationships with brokers new to HTB. He joins from Mint Property Finance, where he spent three and a half years as a BDM, managing a large network of intermediary partners, and having held a similar position at Together, where he was responsible for building relationships with advisers.

Aspen Bridging has appointed Stephen Hickman and Kyle Taylor to the roles of senior risk assessor and recoveries manager respectively. Hickman will be responsible for reviewing all applications as part of the firm’s risk function, as well as assessing cases from application stage and throughout the term of the loan until completion. Taylor will manage the recoveries function, bringing a wealth of experience to the company to ensure that Aspen’s processes are up-to-date, work for customers and brings results. Both Hickman and Taylor join from One Savings Bank, where they both worked for over a decade, most recently holding the titles of bridging senior specialist underwriter and senior bridging recoveries manager respectively.

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