Personal asset lender Borro has appointed David Hardy as business development director.

Hardy, who has over 25 years’ of experience in private banking, will be responsible for developing business links with banks, solicitors, accountants and financial advisers, particularly among his network of contacts.

Claire Gates, managing director of Borro, said: “Our growing product portfolio of services is particularly suited to the professional adviser with clients looking to raise capital quickly secured against personal assets.

“Our challenge is to ensure that advisers have a full understanding of what we do and how the Borro service finds a place in the services they offer.

“David Hardy has a wealth of experience in this particular market segment and we are already seeing a positive result in the short time he has been with us.”

Hardy added: “The Borro proposition offers a very simple but effective solution to many of the immediate funding problems which professional advisers face every day.

“Not only can clients raise money for a short-term loan against a range of personal assets, but we can also provide immediate finance against a future sale at auction or even buy assets outright.”

Borro is also recruiting a team of business development managers.