ICG-Longbow hires new head of senior lending

David Mortimer joins from Santander and replaces Trevor Holmes at ICG.

ICG-Longbow has hired David Mortimer from Santander to head up its senior lending programme, PDI sister title Real Estate Capital reported.

Mortimer will replace Trevor Holmes who left ICG-Longbow in August to lead Gatehouse Bank's real estate lending business. Holmes had led ICG-Longbow's senior loan programme since 2013.

At Santander, Mortimer was head of structured finance risk for the bank's real estate division. His role required managing and monitoring a £5 billion loan portfolio and leading a team responsible for underwriting and executing real estate loans. Mortimer joined Santander in 2008 and also played a role in developing the bank's regional lending activities.

He began his career at King Sturge (now JLL) and has also worked in the real estate finance businesses of JP Morgan and Bear Stearns.

Mortimer will join ICG-Longbow's four-strong senior debt team in January and will work closely with joint managing partner, Martin Wheeler.

“David brings direct property knowledge and wide ranging experience in property finance, especially in mid-market regional lending, which is a key focus for ICG-Longbow,” Wheeler said.

Last month, Wheeler told Real Estate Capital that ICG-Longbow expects to exceed last year's lending volumes in 2015 after deploying more than £750 million across its funds. Around 35 percent was allocated through its senior debt programme.

In its half-year results for the period to 31 July 2015, ICG-Longbow's listed senior debt fund, Senior Secured UK Property Debt Investments, posted a £3.38 million interim profit after tax. The fund had an investment portfolio of 11 loans with an aggregate principal balance of £104 million, producing a weighted average gross internal rate of return of 8.49 percent.