MSP Capital has appointed its first dedicated IT and transformation director as it works towards a projected loan book of £750 million within the next five years.
The Poole-based lender has hired Richard Cargill to the newly created role. Cargill (pictured) joins MSP Capital after a 40-year career spanning technical and senior management positions, including roles at international level.
His appointment is one of three recent additions to the lender’s senior team, alongside Ben Arnold, director of property services, and Julie Davies, head of risk and compliance.
He began his career as a technical consultant supporting multinational corporations and government departments, working with technology companies including HP, IBM, Microsoft and Sun Microsystems.
Cargill later moved into financial services, holding senior technology roles at American Express, AXA, Aviva and Credit Suisse. He subsequently focused on the UK market, becoming chief technology officer at a hedge fund before taking on interim leadership roles, including at Close Brothers plc.
Most recently, he was global IT director at Advanced Instruments, where he supported the company’s mergers and acquisitions activity.
Cargill says: “MSP Capital is recognised for its speed, flexibility and strong, relationship-focused approach. Supporting that is a sophisticated infrastructure that has strengthened its competitive position and fuelled sustained organic growth.
“My priority is to enhance MSP Capital’s growing capability to deploy funds as a principal lender by leveraging market-leading technology. I’m excited to be part of the team.”
Leigh Bartlett, chief executive at MSP Capital, adds: “Richard’s appointment is all about embracing the technological expertise to help us expand. We welcome him as a major contributor to our growth strategy and capability to scale up for the future.”
The appointment comes after MSP Capital launched lower rates across its development and bridging ranges, following the agreement of £350 million in new funding lines last year.
That facility, backed by investment partners J.P. Morgan and Pollen Street Capital, is intended to support the lender’s ambition to build a loan book worth £750 million or more by 2030.
