Mera Investment Management has made three senior appointments as it accelerates its growth strategy, aiming to double its loan book to £200m in 2026 after recently surpassing the £100m milestone.
Frank Pennal Appointed as Non-Executive Chairman
Frank Pennal, former Chief Executive Officer of the Property Division of Close Brothers Group Plc and currently a Non-Executive Director and strategic advisor at Mera, will step into the role of Non-Executive Chairman, taking over from Jan Fletcher OBE who has served as Mera’s Chairman since 2022.
Frank joined Mera in March 2024 following almost two decades as the CEO of the Property Division of Close Brothers Group, during which time the division grew to become one of the largest specialist lenders in the residential development finance marketplace. Since joining Mera, he has played a central role in shaping the company’s strategic plan, advising on capital formation and supporting the expansion of its lending capability.
His appointment as Non-Executive Chairman underscores Mera’s momentum as it targets significant growth over the next 12 months, supported by a strengthened senior leadership team.
Edward Matthews, Chief Executive Officer of Mera Investment Management, said: “Frank has been instrumental in shaping Mera’s growth strategy over the past 18 months. I am delighted he is taking on the role of Chairman. His experience, market insight and long-standing sector relationships make him the ideal person to support the next phase of our growth and development.”
Frank Pennal added: “Mera has built a strong reputation for quality and rigorous underwriting, underpinned by deep market expertise. I would like to thank Jan for her exceptional leadership as Chairman over the past three years. Her steady guidance and support in building the team have been instrumental in steering the business to its current profitable position.
“I’m excited to step into the Chairman role and look forward to working closely with Edward and the team, as we continue to build momentum into 2026 and beyond, delivering value for both borrowers and capital partners and advancing the company’s next phase of growth.”
Two Senior Hires Strengthen Origination and Risk
Mera has also appointed two experienced real estate finance specialists from Commercial Acceptances, a long-established lender within the Close Brothers Group, to support its origination and lending strategy.
Leo del Rosso joins as an Associate Director, bringing extensive real estate lending experience. Leo began his career in 2016 as a Structured Finance Analyst at Close Brothers, before moving to Commercial Acceptances. Leo progressed to become Senior Lending Manager in 2024, originating more than £250m of lending across residential and mixed-use schemes. He was named Trailblazer of the Year at the 2024 Property Week RESI Awards, as well as being shortlisted for Estates Gazette’s ‘Rising Star’ Award. At Mera, Leo will focus on origination across residential and mixed-use lending.
Alasdair Houghton joins as Chief Risk Officer, bringing over 20 years of property finance experience. He previously served as Head of Property Finance at Bank Leumi for seven years and has held senior risk and lending roles at RBS, Northern Rock, Atelier Capital Partners, Cynergy Bank and Commercial Acceptances. His experience spans residential, mixed-use, commercial, PBSA and senior living.
Matthews added: “Leo and Alasdair bring exceptional sector knowledge and leadership experience. Their appointments significantly strengthen our origination, underwriting and risk management capabilities as we work towards doubling our loan book and supporting an expanding range of high-quality property projects across the UK.”
