Nottingham Building Society has appointed Praven Subbramoney as head of its mortgage lending business.
Subbramoney will take up the role of chief lending officer at the mutual, with responsibility for improving services to brokers and customers.
He joins the organisation having held a series of executive leadership positions within First National Bank South Africa, part of First Rand Group, one of Africa’s largest financial institutions.
Most recently, Subbramoney held the position of chief executive officer of secured lending and private bank lending at the bank.
As CLO at Nottingham Building Society, Subbramoney will lead the lender’s mortgage business, including proposition development and the group’s mortgage operations and sales teams.
He takes over from John Eastgate, whose interim role as chief lending officer concludes at the end of April.
Nottingham’s chief executive Sue Hayes commented: “Praven's extensive experience in the mortgage sector – including in leading digital transformation, will be immensely valuable to The Nottingham.”
“We had a strong year in 2022 and we recognise that the housing market and lending landscape is continually evolving – we want to enhance our mortgage proposition and innovate for the future,” she added.
Hayes also thanked Eastgate for his contribution in the role on an interim basis over the last year.
“He has built a talented mortgage leadership team for Praven to take forward, with strong expertise in the UK market. I am excited about what we can achieve in the months ahead,” she said.
Adding to this, Subbramoney said that he was attracted to the role due to the organisation’s ambition to innovate and meet the needs of “extra-ordinary borrowers”.
“I can’t wait to get started and make a positive difference to our members and partners,” he said.
Subbramoney’s appointment follows a number of recent high-profile industry hires for Nottingham Building Society.
Last Spring, Christie Cook was hired for the newly created role as head of mortgages while Alison Pallet, formerly of LiveMore was hired as intermediary sales director at the end of last year.
More recently, Rudolf Heaf, joined the building society as head of mortgage operations from Monument Bank, in February this year.
In March, the lender reported strong financial results in 2022 with gross mortgage lending up 18 per cent and a £3.8mn annual increase in profit before tax of £18.9mn.
jane.matthews@ft.com
