Munden hails from BanyanTree Bank, where he worked as head of risk and credit structuring for just over three years, managing the firm’s bridging loans.

Previous to this, he worked at Standard Chartered Bank for a total of 19 years in various senior roles.

Munden will work closely with the Saxon Trust board and institutional funders in his new position.

The lender adds that it is planning to make additional hires this year.

Saxon Trust co-founder and director Andrew Gardiner says: “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.”

And Munden adds: “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.”