The leading independent global loan administration agent and trustee, GLAS, has announced the appointment of a new CEO, Steven Hodgetts, taking over from co-founder Mia Drennan who becomes group President of the global business.
Steven Hodgetts will drive the business forward with ambitious plans for expansion into new markets and growing the range of services offered.
The leadership team is further strengthened by the promotion of Joanne Brooks to the role of Director and Head of EMEA.
Mia Drennan and her business partner Brian Carne, have taken GLAS from a start-up in 2011 to one of the largest independent providers of loan administration and trustee services in the world, employing 70 people in London, New York, New Jersey, Paris, Singapore, Sydney and Brisbane.
Steven Hodgetts has worked closely with Mia Drennan during this successful period of growth and will now be leading the next phase of development for the business.
Taking on the new role of President, Mia Drennan said: “The management changes announced today are part of a long-term strategy to build on the exceptional progress GLAS has made in a relatively short time to become the market leader.
“Steven has been part of that journey and he is the right person to drive the next chapter of the GLAS story.
“I am also relishing my new global ambassadorial role which allows me to focus on our clients’ needs, continuing to maintain the strong relationships we have built and ensuring that our future strategy is aligned with theirs.”
Steven Hodgetts said: “As the new CEO I have a responsibility to make sure that we continue to prosper and grow as a team and build on the foundations Mia has created.
“That means continued growth across geographies and sectors but also that we remain innovative and add new products and services to an already strong and diverse portfolio.
“GLAS works at the most challenging end of the market, dealing in complex restructuring matters and special situations, direct lending, capital markets and leveraged finance”.
Mia Drennan explained: “What differentiates the company is our willingness to take part in complicated debt restructuring situations that others regard as too difficult. We work closely with a wide client base of lawyers, advisers, corporates, institutions, accountants, banks, debt funds and institutional investors.
“We are proud GLAS delivers services that are truly independent”.
Steven Hodgetts added: “Throughout our sustained growth, GLAS has stayed true to its roots of total independence and ever evolving innovative practices. I am determined we will continue to strive to preserve and extend our special entrepreneurial culture.”
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