Avamore Capital appoints Head of Asset Management

By Bridging Loan Directory 27th April 2021

Principal development and bridging lender Avamore Capital has announced that Toran Selim has been promoted to Head of Asset Management.

After joining the department in November 2018, Selim has taken a step up to lead the team.

Selim will be taking over full-time management of the department from principal, Nikolay Petkov who will now hold an overarching role within the business.

Across the past 12 months in particular, the functions of the asset manager have become increasingly important with the need to be flexible and dynamic in meeting borrower’s requirements.

Last month, Avamore announced that it had successfully passed £150M worth of redemptions with no impairments to date; Selim has been instrumental in this success and will continue to uphold the strength of the Avamore team post completion.

Selim will be seeking to grow the department further with a new hire due to join in June and additional team members added later in the year.

Avamore has undergone expansions across all teams and has ambitious completion targets for 2021.

With that, there is expected to be an uptick in the number of deals to manage post-completion and so it is key that the asset management team is well prepared to service new and repeat customers.

High quality service levels remain core to the asset management team.

Selim will be playing a key part in reviewing operational processes post-completion and will continue to work on building on outstanding customer journey.

He has already been instrumental in on-boarding a new payment platform, Shieldpay, which has allowed greater flexibility on payments and created increased levels of transparency for the borrower.

Selim will hold close working relationships with key service provider partners and will be instrumental in ensuring that collectively, Avamore is delivering on an outstanding borrower experience.

Toran Selim, pictured, Avamore Capital commented:

“I am incredibly excited to take on the role as Head of Asset Management. As the Avamore loan book grows, it is my number one priority to ensure prudent loan monitoring for our borrowers and that we always remain flexible and willing to work on a case-by-case basis.

We have never taken a ‘broad brush’ approach to our customer’s projects and have always worked hard to understand what is important to the borrower and delivered on that.

My goal is that as we grow and manage more loans, the borrower’s interest will always be at the core of what we do.”

Nikolay Petkov, Principal commented:

“Toran has been a huge asset to the business since he joined.

He’s been instrumental in shaping how the department operates and will no doubt continue to make a positive impact on the wider team and the experience our borrowers have.

Loan management has always been important in fluctuating markets. Toran has been key in navigating around challenges and has never wavered in his commitment to do the best for our customers.

I am delighted that he has been able to step up into this role and have every confidence in his ability to perform well.”