Relendex appoints commercial director

RELENDEX has appointed former BDO accountant Paul Sonabend as commercial director.

Sonabend (pictured) joins the peer-to-peer property lender after holding chief financial officer positions at companies in sectors including food packaging, airline catering, health diagnostics and market research.

He is also an entrepreneur who has established his own businesses and invested as a business angel in many others.

“At Relendex, we are always looking for ways to take the company into the next stage of its growth,” said Michael Lynn, chief executive at Relendex.

Read more: Relendex increases maximum loan size to £5m

“Paul’s appointment is a clear demonstration of this. Paul has a wealth of experience and his strong expertise and deep understanding of Lender’s needs will be vital as we continue to expand the business.”

Paul studied economics at the London School of Economics before qualifying as a chartered accountant at BDO in 1982.

“I am excited that Relendex now has a real opportunity to play a part in solving two of the UK’s pressing problems; the housing shortage and the poor rates of return on offer to most savers,” said Sonabend.

Read more: Relendex passes £1m milestone on secondary market

“By helping our team to continuously provide products that will finance housebuilders and developers whilst paying the lion’s share of the interest we charge to our lenders.

“I am looking forward to playing a part in making the P2P industry firmly establish itself as a mainstream source of finance, with Relendex at the forefront of our rapidly emerging industry.”

Read more: Relendex gains full FCA authorisation