BZ appoints Peter Jaffe as chief executive officer
BZ, the specialist asset-based lender, has appointed Peter Jaffe as chief executive officer, as of 6 January 2025. He brings 30 years’ experience in structured finance, asset-based lending, and restructuring to the role.
Prior to joining BZ, Peter served as managing director at Callodine Commercial Finance, where he focused on originating and structuring innovative asset-based lending solutions across the UK and Europe. Before Callodine, he held senior positions at Grovepoint Credit and previously spent 16 years at JPMorgan Chase, where he had various origination, structuring, and credit roles. Prior to leaving, Peter headed the Restructuring Group for EMEA and Asia-Pacific regions at JPMorgan Chase.
Peter commented: “The clear vision for BZ is to own our space and be a leading provider of asset-based lending solutions, potentially adding a cashflow term loan where the key driver is complexity, and where certainty is paramount. We want to be the go-to lender that mid-market businesses, debt advisory firms and private equity houses come to. They know we can deliver on both UK and multi-jurisdictional transactions, are familiar with our diligence process, and understand the kinds of situations where we can get involved and add value. We want to grow the business, attract the right people, and offer a full solution across the capital structure.”
He continued: “I’ve watched BZ over its entire lifecycle: from the start of the business to becoming a formidable player within the industry. I believe the combination of my background in the leverage finance market, establishing an ABL special situations business, and my subsequent role at Callodine provides me with the relevant experience to continue to advance BZ’s business. This makes for a very exciting opportunity. ABL is going to be an interesting and growing marketplace over the next few years as leverage unwinds, interest rates begin to ease, and regulatory challenges increase.”
Peter concluded: “We have an established and supportive funding partner and shareholder in Davidson Kempner Capital Management that works with us, shares our risk appetite and understands the kind of transactions that we want to pursue. When a lending situation meets our criteria and requires the kind of capital we can provide, we’re going to run very hard at that opportunity. Combining this approach with BZ’s experience in deal structuring and its treasury operations needed for revolving credit facilities, represents a fantastic opportunity to continue the story and grow the business further.”
Under Peter’s leadership, BZ aims to strengthen its position as a leading provider of complex, holistic asset-based financing solutions to mid-market companies both in the UK and Europe. BZ will continue to focus on delivering flexible capital solutions that combine revolving credit facilities with term loans and cashflow strips, which will maximise quantum and speed of delivery while neutralising execution risk.