Frank Pennal, former chief executive of Close Brothers Property Finance, has joined Mera Investment Management as a non-executive director and strategic advisor.

In his new role, Pennal will support Mera’s growth plans which include acquiring new talent, building new departments and broadening its funding lines.

“I am delighted to be joining Mera at this exciting phase in their development, and at a point in the market where some lenders have less appetite to lend,” he said.

“Mera has a committed and experienced team, and the robust capacity and appetite to provide prime real estate funding.

“I hope my involvement will assist in delivering their progressive plans to grow the business.”

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Pennal spent 19 years as chief executive of the property lending division at FTSE 250 company Close Brothers Group. During this time, he grew the group’s property loan book from £150m to £1.7bn, with a team of more than 100 people lending throughout the UK. He retired from Close Brothers in December 2023.

“Frank’s commitment to Close Brothers and property finance as a whole was a major factor in why we wanted him as part of the team,” said Mera Investment Management’s chief executive Edward Matthews.

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“His experience in nurturing a business from the ground up, to the undisputable success it is today, will be invaluable during Mera’s own ambitious growth journey.

“Frank will be very hands-on in supporting our growth and we couldn’t have found a better strategic advisor.

“We very much look forward to working closely with him and benefiting from his unparalleled experience in the industry.”

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