Mortgage expert takes key role at The Nottingham
The Nottingham Building Society has appointed Praven Subbramoney as its new chief lending officer.
Reporting to CEO Sue Hayes, Subbramoney will lead the development and delivery of The Nottingham’s lending strategy and mortgage proposition and focus on improving service to brokers and customers.
Subbramoney previously held a series of executive leadership positions within First National Bank South Africa, part of First Rand Group, which is one of Africa’s largest financial institutions. His most recent position there was CEO of secured lending and private bank lending.
He succeeds John Eastgate, whose interim role as chief lending officer concludes at the end of April.
Sue Hayes said: “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. Praven will be central to delivering our strategic aims of transforming the experience for brokers and their customers and innovating our proposition to help as many people as possible own their own home. This has been our guiding principle as a mutual for over 170 years and continues to drive us forward today.
“I would also like to thank John Eastgate for his success in the role on an interim basis and for his contribution 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.”
Subbramoney said: “I am delighted to be joining The Nottingham at a very exciting moment as Sue Hayes and the team look to build on the success of this mutual with new thinking and a transformative strategy for future growth. The ambition to innovate to meet the needs of extra ordinary borrowers and the culture of the organisation and its people, is what attracted me to the business, and I am looking forward to working with Sue and the executive team. I can’t wait to get started and make a positive difference to our members and partners.”
In March, The Nottingham reported a strong set of financial results for 2022, with gross mortgage lending up 18% and pre-tax profits of £18.9m, up £3.8m on 2021.
