Lodha UK boosts in-house finance capability

No.1 Grosvenor Square developer hires Lloyds' Ab Shome as Director of Finance

Lodha UK has brought Lloyds Bank’s Ab Shome on board to strengthen its in-house finance capability.

Shome, who joins as Director of Finance, was formerly Director of Corporate Real Estate Loan Markets at Lloyds, and has also held finance roles at Royal Bank of Scotland, Societe Generale and JPMorgan.

The UK arm of giant Mumbai-based developer Lodha is currently working on two hotly-anticipated PCL schemes – No. 1 Grosvenor Square and Lincoln Square – and looking to capitalise on “strong” pre-sales to raise development financing.

Ab Shome, Director of Finance, Lodha UK: “This is a very exciting time to join Lodha UK and I am delighted to be a part of the team. The track record of the company, the location of the sites acquired and the team that they have assembled encouraged me to make the move. Whilst it is clearly a challenging time for some lenders, there remains an opportunity to do some good deals and build strong relationships.”

Gabriel York, co-head of Lodha UK: “We worked with Ab previously and we were very impressed by his ability and skill set. We are seeking to build strong relationships with funding partners where we have a common vision for development and Ab will be instrumental in helping us achieve this goal. We will continue to add talent and build capability where we think it will create value to our long term business plan in London.”

The firm has been on something of a recruitment drive recently, hiring Savills’ Head of International Sales, Charlie Walsh, and Caroline Foster, former Development Director at Lendlease.

A statement reported a “strong level of interest” in its projects post-Brexit, particularly with overseas buyers looking to capitalise on the weaker pound.