Mortgages for Business managing director Steve Olejnik will begin a phased retirement alongside sales director Gavin Richardson being promoted to chief operating officer, it has been announced.

As well as this, sister company Keystone Property Finance has promoted its own chief operating officer, Elise Coole, to managing director.

Richardson has worked in financial services for over 16 years, and can count stints at HSBC, Lloyds TSB and NatWest as part of this experience. He also spent three years working as a full-time rugby coach, at England RFU, Harlequins RFU and Sussex University.

Olejnik, meanwhile, will reduce his four day a week role to three days and then two before retirement in March in order, MFB says, to help the business navigate the end of the stamp duty deadline.

The Property Business Group chief executive David Whittaker says: “I am convinced Gavin [Richardson] will tackle the job as ferociously as the rugby squads he coached tackled the opposition – and that he’ll kick a third national lockdown into touch. With Elise [Coole] stepping up to the managing director role at Keystone, I will have more time to dedicate to the brokerage – and shall endeavour not to get into too many rucks with lenders as I help manage the transition.”

He adds: “Steve has been the managing director of Mortgages for Business for the last two and a half years and he goes with all our blessings and thanks for his service. He is leaving the business for personal reasons and I am sad to see him go.

“But no one is bigger than the company and we have excellent bench strength from which to recruit internally – hence Gavin’s promotion.”

Olejnik comments: “I have been with Mortgages for Business for going on two decades and I am pleased to leave the firm in such capable hands. As a shareholder, I’ll keep a close eye on the business – which will always be close to my heart.

“It has been a tough decision but it’s time for me to take a break and spend more time with the family. While I plan to broadly retire, I may look at some fresh challenges in due course.”