Jonathan Samuels, CEO of Dragonfly Property Finance, has resigned to launch a new finance venture.

The lender’s parent, Octopus, said the business Samuels is to join is not involved in real estate and will not compete with Dragonfly.

He will be succeeded by head of sales and marketing Mark Posniak.

Simon Rogerson, CEO of Octopus, said: “Dragonfly is a great, award-winning business that continues to go from strength to strength and I would like to thank Jonathan for all of his hard work over the years. He has built a first class business supported by a talented team and we wish him all the best for his new venture.

“Dragonfly’s strategy will remain unchanged and we look forward to continuing to grow the commercial and residential property lending businesses under Mark’s leadership.”

Samuels added: “In Dragonfly I am proud to leave behind a fantastic business full of hard working and dedicated professionals. I have no doubt the business will continue to thrive as it builds on its success to date.”