SoMo bolsters team with relationship director and two underwriters
SoMo has expanded its team with the appointment of a new relationship director and two underwriters.
The specialist bridging lender named James Brocklebank as relationship director for the Midlands and East, bringing its sales team to 14.
SoMo said that Brocklebank “believes in the power of face-to-face relationships” and will prioritise meeting with brokers, new partners and developers to ensure they are up to date with the lender’s products, processes and promotions.
SoMo also announced that Salman Ali and Harvey Wood have been appointed as underwriters, bringing the team to 12 members under its underwriting director Rob Johnson.
Both Ali and Wood will be responsible for “risk assessment, risk mitigation and assessing loan applications,” SoMo said.
The appointments come after the lender’s latest full-year results revealed a bumper rise in profits and turnover.
Pre-tax profit increased to £6.4m for the year to 31 March 2022, up from £4.8m the previous year, while turnover rose to £18.9m from £12.9m.
SoMo said in the results statement that it has been expanding its workforce to ““lay the foundations for future growth”.
Last December, SoMo announced that 2022 was its most successful year to date. It said at the time that it was planning to launch a personal and business insolvency and bankruptcy product this year.
This year, it has announced a number of record-breaking months, boosted by broker-focused promotions.