Glenhawk appoints Steven Khan as Chief Operating Officer

By Bridging Loan Directory 8th July 2019

Glenhawk, the fast growing UK challenger lender, is pleased to announce that former Morgan Stanley Head of Residential Mortgage Trading Steven Khan, pictured, an industry veteran with nearly 40 years of residential and commercial real estate experience, has been appointed as Chief Operating Officer. His appointment closely follows that of Caroline Ong earlier this month, as the company continues to build out its senior team as it targets further fund raising and the launch of several new products this year.

Effective immediately, Steven will be based in London and report directly to CEO Guy Harrington. He will be responsible for driving the commercial growth of the company, with a focus on launching new products, as well as maximising operational procedures focused on new system and process implementation, alongside people management. He will also work closely with Guy and Nick Hare, Head of Strategy and Capital Markets, as Glenhawk engages with potential senior and mezzanine funding line providers alongside new equity backers for the business.

Guy Harrington, CEO of Glenhawk, commented:

“Steven’s appointment is another major statement of our ambition as we build a senior team of highly experienced individuals who can provide the leadership required as we continue on our upward growth trajectory. His CV speaks for itself, with an entrepreneurial background that spans origination, product launches, investment banking and technological innovation, working for some of the world’s largest financial institutions.”

Steven joins Glenhawk from boutique lender Step One Finance Limited, where as Head of Commercial Development he was responsible for the successful launch and implementation of its unsecured, revised second charge and bridging products, growing Step One’s second charge market share to 7%, as well as the development of a new servicing technology platform.

Prior to this he was Sales Director at established Business Process Outsourcing provider and software house Target Group, where he oversaw in-deal services to London Private Equity funds and investment banks. His significant financial services experience includes roles at Morgan Stanley and Lehman Brothers, where he was Head Trader, Mortgage Trading Desk, as well as at Paratus AMC, Private Label, Platform Home Loans and GMAC.

Having generated £77 million of enquiries in June, Glenhawk has an active pipeline of over £35 million of deals, as it looks to build on the £60.2 million lent since conception.

Earlier this month, Glenhawk debuted at number six, and as the highest ranked entrant founded since 2018, in the Startups 100 2019, the definitive annual list of up-and-coming businesses identified as having the potential to change their industries for the better.

Steven Khan added:

“The UK residential and commercial property lending markets have evolved beyond recognition since I first started out, and in Glenhawk I see a company that has the platform and people to continue driving positive change. There is a significant market opportunity for new products, particularly for regulated bridging and term and I am excited by the opportunity to leverage my relationships and depth of knowledge to support Guy and the team in the next stage of its growth.”