S&U plc has promoted Jack Coombs to the role of chief operating officer, signalling the group’s confidence in Aspen Bridging’s future growth.
The announcement was made to the London Stock Exchange on 8 October and will see Coombs (pictured) assume wider operational and strategic responsibilities across the group, while retaining a direct, hands-on role in Aspen’s trading activities.
S&U plc, which owns both Aspen Bridging and Advantage Finance, said the new position will support efficiency, innovation and funding coordination across the group. Coombs’ role will complement those of the existing senior leadership team.
“This promotion is a vote of confidence from the group board, particularly Anthony Coombs our chairman and Graham Coombs our deputy chairman, not just in myself but also in the important contribution that Aspen is making, both current and future, and our ambitions within the bridging sector,” said Coombs.
He added: “Aspen now makes up approximately a third of group profit and we are confident that, alongside Advantage Finance, both businesses will continue to improve and grow in a sustainable and responsible way.
“I very much enjoy the relationships in the industry, getting neck deep in deals, and that is not going to change. I am very excited about the future prospects for Aspen and look forward to helping drive that alongside Ed Ahrens, Aspen’s CEO, and the rest of the senior management team.”
Founded in 2017 by Coombs and Ahrens, Aspen has become a significant lender within the UK bridging market. The business surpassed £750m in total lending in August and has set a target of reaching £1bn by 2026.
