PLUTO Finance, a provider of private credit for UK property developers, has expanded into Scotland with the appointment of Jamie Drummond as lending director for Scotland.
He will lead Pluto Finance’s entry into the Scottish housebuilding and developer market by providing access to the firm’s lending solutions. Jamie joins the business after 30 years in corporate banking at NatWest where he had experience of structuring and managing real estate transactions across senior debt, mezzanine, and equity finance. More recently he was involved in building a senior real estate lending book in Scotland and led transactions across all sub-asset classes.
Jamie will focus on building Pluto’s relationships with developers across Scotland and providing them with ‘flexible and cost-effective’ funding to support new housing development projects.
Justin Faiz, CEO of Pluto Finance, said, “We are delighted to welcome Jamie to the Pluto Finance lending team. His considerable knowledge of the Scottish housebuilding and developer market will be key to Pluto quickly establishing a presence here. He will enable us to quickly deploy capital from our main fund and from Scottish investors that will be partially ring-fenced for deployment in Scotland, enabling us to help finance the much-needed building of affordable homes here.”
Jamie Drummond added, “Pluto’s innovative proposition to the market and outstanding professionalism is a stand-out for me and I am really excited to be joining at a time when there is such a need from housebuilders for finance to build new homes. Pluto’s approach will ensure local capital is used for local housebuilding thereby benefitting local supply chains and creating jobs in Scotland. I am looking forward to working with Pluto to establish the franchise in Scotland.”
