SoMo has expanded its group with the appointment of a brand new relationship director and two underwriters.
The specialist bridging lender named James Brocklebank as relationship director for the Midlands and East, bringing its gross sales group to 14.
SoMo mentioned that Brocklebank “believes within the energy of face-to-face relationships” and can prioritise assembly with brokers, new companions and builders to make sure they’re updated with the lender’s merchandise, processes and promotions.
SoMo additionally introduced that Salman Ali and Harvey Wooden have been appointed as underwriters, bringing the group to 12 members underneath its underwriting director Rob Johnson.
Each Ali and Wooden will probably be chargeable for “danger evaluation, danger mitigation and assessing mortgage functions,” SoMo mentioned.
The appointments come after the lender’s newest full-year outcomes revealed a bumper rise in income and turnover.
Pre-tax revenue elevated to £6.4m for the yr to 31 March 2022, up from £4.8m the earlier yr, whereas turnover rose to £18.9m from £12.9m.
SoMo mentioned within the outcomes assertion that it has been increasing its workforce to ““lay the foundations for future progress”.
Final December, SoMo introduced that 2022 was its most profitable yr to this point. It mentioned on the time that it was planning to launch a private and enterprise insolvency and chapter product this yr.
This yr, it has introduced a lot of record-breaking months, boosted by broker-focused promotions.