Octane Capital has appointed Richard Deacon as its new managing director for sales.
Richard is a 14-year veteran of Masthaven Bank and a well-known bridging specialist, having started his career in financial services in 1997.
Also adding to the senior team is Josh Knight as sales and marketing director, an expanded role which Josh will step up to having been at Octane for four years as senior BDM and before that as BDM.
Mark Posniak, managing director and co-founder of the business, will be exiting by the end of this year having sold his shareholding in Octane.
Sales director, Liam Lawlor, is also leaving the business to join an investment fund with operations in Ireland and Spain.
Octane's CEO, Jonathan Samuels, said: “It’s third time lucky as I’ve twice tried to lure Richard to work with me over the last ten years and have finally been able to convince him to help lead our growth journey as our new managing director of sales. His credentials are unparalleled and his reputation exceptional in the industry plus he’s extremely well liked and that counts for an awful lot in a people business such as ours.
“Whilst we will always have a keen eye for talent throughout the industry we also believe in promoting from within as this appointment demonstrates. Customers, potential customers and peers will also be seeing more from the Octane brand as Josh steps up our marketing efforts from January. His promotion is richly deserved and I know that he will do great things in his promoted role.
“Mark and I have had the pleasure of working together for many years and have become good friends as well as being work colleagues. The work aspect may now be coming to a close however our friendship will remain and I’m sure that Mark’s golf handicap will also now have the opportunity to improve still further in the coming months”.
"Mark has been instrumental in helping to build the Octane brand and has led the Octane sales team to achieve great success and respect in the sector, achieving significant milestones along the way and for that I will be ever grateful.”
Richard Deacon commented: “I am relishing the role ahead and excited to work alongside Jonathan and his brilliant team in building Octane Capital to become the leading specialist lender in the property space. Our plans to double the loan book to £1bn are ambitious but achievable given Octane’s traction and its excellent low-cost variable and tracker products for bridging and refurbs as well as new buy-to-let products next year. I am determined to utilise my knowledge and experience to help facilitate this new goal.”
Josh Knight added: “I’ve had a fabulous journey at Octane starting as BDM, being promoted to senior BDM and now becoming director responsible for sales and marketing with a focus on elevating the Octane brand as part of our big vision to expand significantly as a third gen lender. The refreshed team is full of new ideas and 2023 is looking very exciting for us indeed.”
Mark Posniak commented: “I was offered a great opportunity to capitalise on the progress that we have made since 2017. I will now take some well-earned time off before deciding on my next adventure.
"My time at Octane has been a high-point in my career and I am incredibly proud of what we have achieved together. I will of course miss Jonathan, Matt and the rest of the #3rdGen team.”
