Independent Growth Finance (IGF) has announced that John Onslow is stepping down as CEO after seven years.

He has recently been undergoing chemotherapy as part of his ongoing treatment for cancer and earlier this year advised that it would be best for the company and key stakeholders if a replacement were found.

IGF says that his treatment progresses well and all are optimistic that he will return later in the year to continue supporting the growth and development of IGF.

The board has now announced the appointment of Steve Chait as CEO of the Company. He has worked in asset based lending for over 30 years with Burdale, Wells Fargo and, most recently, Blazehill Capital.

Chait (pictured) said: “I am delighted to be joining IGF, a long established, independent and entrepreneurial lender whose aspirations match my own. I’ve watched John Onslow and his team build a fantastic business from a standing start, helping hundreds of businesses in the UK with their financing requirements.

“This is a rare opportunity for me to join this dynamic team and I look forward to working with the group to achieve our exciting ambitions.”

John Allbrook, IGF’s chair, added: “I am delighted we have appointed Steve as our new CEO. He brings new energy and drive in addition to his undoubted knowledge and expertise of the market, which will all be key ingredients for the Company’s continuing success.

“Following a rigorous search & selection process, I am confident we have identified the best person possible for this job.”

Onslow concluded: “I was very impressed with the quality of candidates that we attracted for this role and am highly confident that we have the right individual for the job. I would like to wish Steve every success at IGF.”