After more than a decade at the helm, Tim Parkes has made the decision to step down from his role as CEO of RAW Capital Partners.
Tim will remain an integral part of our future, serving as Senior Adviser to the Company and as Chairman of The RAW Mortgage Fund. This will ensure the company continues to benefit from his knowledge and expertise. Ben Nichols, who has been a director of the business for over four years and Managing Director for the last two years, will be moving into the role of CEO.
Tim’s story with RAW
After a successful career in banking, wealth management, funds, and financial services, Tim initiated the development of The RAW Mortgage Fund in late 2014 alongside Richard Avery Wright.
The pair built the business from scratch with two clear goals.
- To better serve people based outside the UK who are seeking to purchase UK properties. Many within this group of borrowers that had found mortgage lenders frustrating and slow to deal with.
- To provide investors with an opportunity to achieve returns from a broad base of low loan to value mortgages, each secured with a first legal charge, on a range of UK residential properties; something that was likely to provide better returns to investors than holding cash in a bank or building society.
Over the last ten years, RAW has achieved both of these objectives effectively, and they still remain the company’s core focus.
Tim’s reflection on the past ten years
Commenting on the evolution of the RAW Mortgage Fund, Tim said: “I have enjoyed the last ten years immensely. Building The Fund from scratch has been very rewarding.
“We were fortunate to have strong support from local Trust Company investors and then attract the attention of some insurance company investors in our early years, for which I was hugely grateful. These early investors, along with new insurance investors, several corporate investors and private clients, have continued to support us and have grown their investment in The Fund over the years.
“More recently, we have successfully attracted a public investor and some large private client mandates. Now, institutional investors make up around two thirds of The Fund’s total assets. I’d like to thank all investors for their support.”
More broadly, Tim also reflected on the support of the RAW Capital team and its partners. Indeed, from its small beginnings, the RAW team has grown notably over the past ten years, with employees now based in London and Southampton, along with the main Guernsey HQ.
Tim commented: “I owe a debt of gratitude to all of the people who have supported the business over the years. Our own team has evolved and grown in stature over time and each and every member of the team should be proud of their contribution to the successes we have achieved.
“We have built an excellent team who focus every day on providing fast, quality service to our broker network. This is what drives the business forward.
“I thank our partners too, whether they are brokers who bring us lending opportunities, service providers supporting The Fund, or our shareholders. Finally, I thank those who have served alongside me as directors of both RAW Capital and The Fund. Without their dedication we could not have achieved so much.”
Handing over the baton
Tim’s impact on the business cannot be overstated. Over the last ten years, he has been central to the growth and success of RAW Capital Partners and The RAW Mortgage Fund. His strategic vision and tireless commitment have been foundational to our achievements.
We owe Tim a profound debt of gratitude for his years of dedicated hard work and mentorship. He should take great pride in his achievements, and we look forward to his continuing involvement with The Fund and as Senior Adviser to the Company, particularly with his guidance in key areas, such as strategy and lending.
The entire RAW team is excited to build on the progress of the past decade under Ben’s leadership. He is an energetic leader and, having already been with RAW for near-on five years, he has a great understanding of what makes us successful – given his experience as our managing director, the company is in safe hands as it takes this next step in its journey.
Ben said: “Tim’s contribution to RAW as co-founder and CEO has been hugely significant. He has played a central role in shaping the business, its culture and its approach to lending.
“This is an important moment for RAW, but it is not a change in direction. We will continue to operate with the same focus, standards and approach that brokers, borrowers and investors know us for. I am excited to be stepping into this new role, and to see the company continue its growth and progress over the months and years to come.”