Peter Beaumont has announced his decision to step down as CEO of The Mortgage Lender (TML) and from Shawbrook’s Executive Committee.

During his seven years at the lender, the business has grown significantly and has originated close to £3bn of assets.

In 2021, Beaumont (pictured) managed the sale of the business to Shawbrook where it has become part of the bank’s portfolio of specialist retail mortgage brands.

Hugh Meechan, currently COO at TML where he has been for over eight years, will lead the business on an interim basis.

Beaumont said: “I’m incredibly proud of what The Mortgage Lender has achieved, particularly over recent years. The talent of the team, the investment in technology and the relationships we have with our introducers makes this a very special business. I look forward to seeing TML continue to innovate and grow in the specialist mortgage market.”

Marcelino Castrillo, Shawbrook’s CEO, added: “Peter has made a huge contribution to the TML story, leading its growth as both an independent specialist lender and as part of the Shawbrook Group where he has also been a very active and supportive presence at the Executive Committee.

“We thank him for his contribution and wish him well for the future.”