Frank Pennal joins Mera Investment Management

By Bridging Loan Directory 19th March 2024

Mera Investment Management (Mera IM) has announced the appointment of former Close Brothers Property Finance CEO Frank Pennal to its board of directors.

The private real estate finance and investment firm is proud to have one of the UK’s most experienced property finance business leaders join the team as Non-Executive Director and Strategic Advisor.

Frank is responsible for supporting Mera IM’s growth plans, including acquiring new talent, building new departments, and broadening the funding lines.

Frank commented:

“I am delighted to be joining Mera at this exciting phase in their development, and at a point in the market where some lenders have less appetite to lend.

Mera has a committed and experienced team, and the robust capacity and appetite to provide prime real estate funding.

I hope my involvement will assist in delivering their progressive plans to grow the business.”

Frank has a led a distinguished career in banking and finance, including a 19-year tenure as CEO for the property lending division of the Close Brothers Group (a FTSE 250 Company).

Under his stewardship, Close Brothers’ property loan book grew from £150m to £1.7bn, and he grew the team to over 100 people lending throughout the UK.

After nearly three decades of service, Frank retired from Close Brothers in December 2023.

Edward Matthews, Mera IM CEO commented:

“Frank’s commitment to Close Brothers and property finance as a whole was a major factor in why we wanted him as part of the team.

His experience in nurturing a business from the ground up, to the undisputable success it is today, will be invaluable during Mera’s own ambitious growth journey.

Frank will be very hands-on in supporting our growth and we couldn’t have found a better strategic advisor.

We very much look forward to working closely with him and benefiting from his unparalleled experience in the industry.”