Together says that its chief executive designate Gerald Grimes will step down in the spring “to pursue other personal ambitions”. 

The announcement by the group — which covers a range of lending including, mortgages, buy-to-let, commercial and corporate — was made in a market update today. 

Grimes joined the lender in April 2020. 

Together chairman Mike McTighe says: “Gerald has been a valued colleague and senior executive with Together for four years and leaves with the appreciation of the board for his significant contribution, helping Together deliver continuing success and building a platform for sustainable growth despite the challenging economic backdrop of recent years. 

“He leaves with our best wishes for his future.” 

The business adds it has started a search for his successor. 

Grimes has spent over 30 years in financial services, spanning such institutions as Barclays, GE Capital, The Funding Corporation and Hitachi Capital. 

He was also an advisor to the Financial Conduct Authority for six years until 2021. 

In December, Together boosted a warehouse facility to fund property investors and small commercial real estate loans by £200m to £725m.    

The specialist lender refinanced its Highfield Asset Backed Securitisation 1 Limited facility, which was launched in 2018 to fund the origination of small commercial real estate loans, to support UK small and medium-sized businesses and commercial property investors.   

The lender has a range of funding sources that include ten public and six private securitisation facilities.