Catalyst Property Finance founder Chris Fairfax is stepping down as chief executive following the specialist lender’s integration into Foundation Group.
Fairfax, who launched Catalyst in 2017, will remain involved with the business by supporting business development initiatives and providing strategic input.
Leadership responsibility is transferring to Foundation Group’s executive committee, working alongside Catalyst’s existing senior leadership team. No direct successor to Fairfax has been announced.
Catalyst says the change will not affect its lending appetite, proposition, service standards or support for brokers and borrowers.
INTEGRATION COMPLETED
Fairfax has overseen Catalyst’s integration into Foundation Group during the past 12 months following the lender’s acquisition.
Foundation Group says Catalyst will now draw on the wider group’s resources as it pursues further growth in the specialist property finance market.
Pete Ball, chief executive officer of Foundation Group, said: “On behalf of everyone across the Group, I would like to thank Chris for his vision, leadership and commitment in building Catalyst into the highly respected lender it is today.
“Creating a successful specialist lending business from the ground up is a tremendous achievement and one that has earned Chris enormous respect across the market.
“Over the past year, Chris has also played a pivotal role in delivering a successful integration into Foundation Group, ensuring continuity for customers, brokers, funding partners and colleagues alike. We are delighted that he will continue to support the business as it moves into this next phase.”
‘RIGHT TIME’ FOR TRANSITION
Fairfax described leading Catalyst as one of the greatest privileges of his career and said the completed integration made this the right time to hand over day-to-day leadership.
He added: “I am enormously proud of what we have achieved and grateful to our colleagues, customers, brokers and funding partners for the trust and support they have shown us over the years.
“Most importantly, I know Catalyst is in excellent hands. We have built an outstanding business with an experienced leadership team, a strong culture and a clear strategy for growth.
“With the backing of Foundation Group and the strength of the team already in place, I am extremely excited about Catalyst’s future and look forward to continuing to support the business as it develops and succeeds in the years ahead.”
