"I am particularly keen to demonstrate how an individual’s assets can fund investment opportunities as soon as they arise."
Luxury asset-backed lender, Suros Capital, has appointed Charles Hodge as business development director to build relationships with intermediaries and businesses involved in providing procurement services for high net worth individuals and families.
Charles was the founder of Quintessentially South Africa in 2004 and on his return to the UK in 2010 he began consulting for family and private offices specialising in lifestyle management and luxury asset acquisition. He was also VP at luxury asset lender, Borro.
Suros Capital launched in November 2020 and lends exclusively via intermediaries. It provides short-term lending facilities specifically aimed at people looking to raise money quickly, secured against luxury assets including jewellery, fine art, watches, luxury and classic cars and fine wine.
He said: “I am excited to join Suros Capital and bring their proposition to the HNW community of intermediaries. Suros represents a terrific opportunity for individuals to generate funds quickly for acquisitions, or to pay for unexpected financial calls that need immediate settlement. However, I am particularly keen to demonstrate how an individual’s assets can fund investment opportunities as soon as they arise. Many of these opportunities require would be investors to act fast. Approaching banks for funding can take too long or be rejected out of hand for those who are temporarily cash poor but asset strong. Using the Suros facility means that short term funding can be put in place as quickly as an asset valuation can be arranged and then repaid over the term of the loan.”
Director of Suros Capital, Ray Palmer, added: “We are delighted to welcome Charlie to Suros. His experience of luxury asset finance and procurement for the HNW sector and impressive list of intermediary contacts, allied to his passion for providing a personal hands-on service, can only benefit Suros Capital and our customers as we build on our successful launch in November last year.”