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UK-based Masthaven’s Founder steps down from the position of the CEO

 Andrew Bloom, Founder, Masthaven

UK-based Masthaven Bank announced that Andrew Bloom, its Founder and CEO, will be stepping back from his position by the end of April 2020. The Bank’s Chief Financial officer Leigh Bartlett will be taking over the role of the CEO while Andrew will continue his activities as a shareholder and non-executive director.

Andrew Bloom commented, “I am very proud of Masthaven and how its talented employees have always striven to deliver a personal solution for our customers and intermediaries. We have built an incredibly strong foundation and a great leadership team. As a non-executive director and significant shareholder, I will continue to assist Leigh and the leadership team in driving Masthaven forward.
I’m very fortunate to be in a position to be able to take a step back from the day to day running of the business and have decided to take full advantage of this. I’m looking forward to the next stage of my life where I already have many plans including cycling through Botswana to the Victoria Falls, as well as various other charity and business endeavors. ”

The Bank recently received a £60 million equity investment from Värde Partners in a bid to continue to strengthen its market position in the UK residential and SME markets. Since the Bank’s launch in November 2016, Masthaven has grown to around 180 staff, has completed over £1.1bn of lending and has provided deposit solutions to its retail and business customers resulting in over £1.2bn of savings being raised.

Leigh Bartlett, the incoming CEO said, “It’s an honour and great responsibility to take over from Andrew. I would like to thank him personally for the support he has given me since joining Masthaven. I look forward to continuing to grow the bank, together with the Masthaven team, to become one of UK’s leading specialist banks in the UK residential and SME markets.”

Established in 2016 as a retail bank, Masthaven saving and lending products. The bank’s specialists aim to provide customers with flexible and fixed-term savings accounts, bridging loans, development finance and mortgages.

Ashley Machin, Chairman said, “It is always a seminal moment when a founder CEO steps away from his executive role. His commitment and contribution to Masthaven has been second to none. I’d like to thank him both personally and on behalf of the Board for the journey he has led Masthaven on over the past 15 years. I look forward to continuing to work with him as part of the Non-Executive team on the Masthaven Board.”

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