Former Lending Wizard head of intermediary distribution Darrell Walker has joined Prestige Finance as head of product and new business development.

Walker joins as Simon Stern departs after more than 30 years with the lender which he helped transform from a small family business to a leading player in the secured loans market.

In his new role Walker will take direct responsibility for Prestige’s product development and intermediary relationships whilst leading the firm through the European Mortgage Credit Directive process.

He said: “I want Prestige Finance to continue to be seen as a market leader in terms of product innovation, partnerships and its professional approach to the second charge market.

“The change in regulation gives the sector the perfect opportunity to enhance its position with consumers and intermediaries.

Working alongside Walker, Shelley Connelly (underwriting manager) will continue to oversee the underwriting department and be the primary contact for Prestige’s intermediary partners for all underwriting and operational matters.

John Eastgate, sales and marketing director at parent firm OneSavings Bank, added: “Darrell joins us at an important time for both the industry and for Prestige.

“The changes that Darrell has highlighted will propel the second charge market into the spotlight as never before.

“Prestige Finance is ideally placed to meet these challenges, both in terms of its specialist second charge lending proposition and its role with the wider OneSavings Bank Group that seeks to maximise opportunities for its intermediary partners.

“I would also like to express my sincere gratitude to Simon for the part he has played in Prestige’s success and wish him well in his future endeavours”