Oblix Capital has appointed a former top executive at Aldermore as its new Head of Credit.

Tom Reeve will manage the bridging and development finance provider’s lending policy and support the director of risk in debt management, recoveries and compliance.

Rishi Passi, CEO, Oblix Capital, said: “Tom joins Oblix Capital at an exciting time for the business and I’m confident that his knowledge and experience will be a huge boon as we take the company to the next level.

“A sound lending policy is the bedrock for a sustainable development finance provider, so his role with be pivotal to our mission to establish a speedy, yet strong and sustainable finance lender for developers across the UK.”

Tom was senior credit manager at Aldermore and brings with him 15 years of experience in commercial lending and credit policy.

Tom said: “SME developers spend a lot of their time securing development loans, which so often turn out to be unfit for purpose.

“Rishi and the team at Oblix Capital are making waves in the industry by offering well-structured loans that provide exactly what the market is crying out for, so it’s a fantastic time to be joining them.”

Tom’s recruitment is Oblix Capital’s second key hire in less than a month.

In October, it appointed Steve Woods as regional development manager to build new and manage existing key intermediary relationships in the Midlands and the North.