Munden previously spent over 35 years with Standard Chartered Bank in various credit and risk related roles, including more than 10 years as regional head of country cross border risk for SE Asia and Latin America, before becoming head of strategic investments risk for the bank.

From Standard Chartered, he joined Banyantree Bank to manage and restructure their profitable portfolio of bridging loans.

Andrew Gardiner, director of Saxon Trust, said: “We are delighted Stuart has joined us in the business to manage the credit and risk function as we enter an exciting growth phase.

“Our new funding lines for short-term finance should lead to significantly increased volumes of business and Stuart’s decades of high-quality, institutional experience will be invaluable as we expand our credit function.”

Munden added: “Having enjoyed a long and successful career with a major blue-chip bank I’m excited to be joining a progressive specialist lender just as it’s entering a significant growth phase.

“The opportunity to use my experience, to help manage and subsequently shape the credit function is one that I’m looking really forward to.”