Regentsmead's Bloom to head up Masthaven dev finance division

Former Regentsmead chief executive James Bloom is set to join Masthaven Bank.

Former Regentsmead chief executive James Bloom has joined the newly authorised Masthaven Bank as managing director of its development finance division.

Bloom was atRegentsmead for almost30-yearsand created its short-term Lending department before becoming a directorand then chief executive.

Jon Hall, managing director, Masthaven Bank, said: “It is a very exciting time for Masthaven Bank as we set to launch as a retail bank. Our opportunity comes from creating products focused on individuals’ needs that are delivered brilliantly. We are delighted to have attracted James, as one of the best known players in this marketplace, and to have persuaded him to join our exceptional, and growing, leadership team.”

Bloom added: “After nearly 29 years at Regentsmead it would have taken something incredibly exciting for me to leave. I could see this was the very special business which I would be delighted to join. We are going to be re-launching our development and refurbishment products - combining low cost of funding with a five star service to create a market-leading proposition.”

Following receipt of its full banking licence in May, Masthaven Bank has already confirmed it will offer a range of online fixed-interest savings products andcontinue to offer specialist second charge mortgages via its intermediary partners.

Regentsmead head of lending Ashley Ilsen will be taking over his responsibilities at the development finance provider and will be working hand in hand with chairman Richard Ross.

Ilsenjoined Regentsmead in 2012 after spending time studying and working in Ningbo, China whilst Ross has been with Regentsmead since 1967 and is aqualified as a chartered accountant.

Ilsen said: "It is very much business as usual for Regentsmead. Myself and Richard Ross will be working together to continue the great work which James has done for the firm.

"We have just had our most profitable year ever and we will continue to push on and keep providing the quality of service that people have come to expect from Regentsmead.

"Everyone at Regentsmead wishes James the best of luck in his new role and for the future."

Bloom starts his new role on 6 July.