Bluestone says its founder and Executive Chairman, Alistair Jeffery, will continue to be actively engaged in the business as non-executive Chairman, dividing his time between the firm's head office in Cambridge and its regional offices in Dublin, Manila and Sydney.
After working at Japanese investment bank, Nomura International in the 1990s, Peter joined Bluestone in Australia in 2003 to establish its Equity Release business, before taking on the role of CFO, and then CEO - APAC in the aftermath of the financial crisis. He joined the UK arm in 2013 and led Bluestone's expansion into mortgage lending.
Bluestone lends to the self-employed, recent migrants, contractors and part-time workers and customers that have had prior credit problems. It has lent over £4 billion to the sector since 2000.
The business is 53% owned by LDC, the private equity arm of Lloyds Bank, and 14% by Macquarie Bank, with the balance held by the management team and staff.
Alistair Jeffery said: “Peter is the ideal candidate, combining wide international accounting and structured finance skills with deep operational experience in the specialist lending sector. We believe he is best placed to continue driving the business forward over the next decade.”
Peter McGuinness added: “Under Alistair’s leadership, Bluestone has developed a clear vision for growth over the next five years, and I am looking forward to drawing on my 13 years of experience with Bluestone and taking on the challenge of executing that plan. Our Managing Director for Bluestone Mortgages UK, Matt Andrews, is building an exciting business, creating a leading specialist lender supporting customers who are underserved by the high street banks, and and I am confident the business will continue to deliver strong growth.”
