Afin Bank has promoted Tippie Malgwi to Head of High Net Worth and Diaspora Banking, reflecting the growing strategic importance of both customer segments for the specialist lender. In his new role, Malgwi will lead the bank’s newly re-branded Afin High Net Worth proposition.
Since joining Afin last year, Malgwi has played a central role in developing tailored solutions for “asset rich, income light” borrowers, while continuing to support diaspora customers, a core part of the bank’s mission to serve traditionally underserved communities.
Originally called ‘Afin Premier’, the newly re-branded Afin High Net Worth (HNW) mortgage allows borrowers to include assets such as their pensions, investments, shares, real estate holdings and even fine art and classic cars when assessing their affordability.
As part of the promotion Malgwi will continue to play a crucial role in overseeing Afin’s Diaspora mortgage offering designed for foreign nationals working in the UK who can find it hard to get a home loan because of the length of their visa or a lack of UK credit history.
Malgwi said: “The response to the Afin High Net Worth mortgage has been incredible because it gives borrowers more scope in assessing their affordability, which usually isn’t possible via mainstream lenders. It is also more accessible because we work with brokers and wealth advisers, so it is not just the preserve of private banks.
“I am also delighted to continue to help to drive the awareness of our mortgages for diaspora communities. These are people, such as health workers and other professionals, that are crucial to our society and should be given the chance to buy their own homes.”
Jason Oakley, CEO for Afin Bank, added: “The contribution Tippie has made to Afin Bank in such a short time, particularly in helping us build our Diaspora and HNW propositions, has been exceptional, so I am delighted that he is taking on this new role.
“He brings a unique combination of mortgage knowledge and understanding of customer needs, which means he can have a very technical conversation with advisers about their HNW clients, just as easily as he can talk directly about the importance of home ownership with people in diaspora communities.”
Afin Bank helps underserved borrowers who may struggle to get mortgages because of their unique circumstances, such as high net worth borrowers, people from overseas living and working in the UK on a valid work visa, the self-employed and qualified professionals.
