Pepper UK Limited has appointed Mark Caplan to head its commercial loan servicing department, marking a substantial milestone in its diversification into different asset classes.
Historically known for its residential mortgage servicing expertise, Pepper has rapidly grown its commercial real estate offering in 2014. The hire of a well-known figurehead cements the company’s intentions for the future.
Caplan joins Pepper from a 25-year career at Lloyds, the last 15 of which were spent focused on real estate finance where he first oversaw the origination of loans across a wide spectrum of size and type. For the past six years he then moved into a restructuring role where he made a name for himself as a specialist in handling the most distressed non-performing debt. He explains:
"During the global financial crisis I headed a team that built a strong reputation for its expertise at managing some of the biggest, most complex, most toxic books, of every asset class imaginable. From wind tunnels to casinos, sports clubs to apartments, I enjoyed a great variety. But having successfully helped to manage down the book from £43billion down to £5billion, I was ready for my next challenge."
Richard Klemmer, CEO of Pepper UK, adds, "Mark is an ideal match for Pepper. With his breadth of experience at both ends of the commercial loans market, he has been able to adapt very naturally to our own service offering, with equal comfort handling both non-performing and performing CRE portfolios.
"Hiring Mark to lead this department is a continuation of our investment in building a team with experience unrivalled in this industry. All of our newly-hired commercial specialists are proven experts in both loan origination and servicing, and they put us in a strong position for today’s rapidly-changing landscape of hybrid books with an unprecedented mix of asset types."