Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.

Leadership Change at LSL Financial Services as Howells Steps Down

Richard Howells will step down as group managing director of LSL Financial Services later this month. Piotr Nowosad has been appointed as interim managing director and will lead the financial services division during the transition.

Howells, who joined LSL in 2023 as chief operating officer before becoming group managing director, will support the handover process before his departure. During his tenure, Howells led the division through a transition and, according to the group, laid the foundation for its next stage of growth.

Nowosad will take responsibility for LSL Financial Services’ subsidiaries, which include Primis, TMA Mortgage Club, Novium, and Linear. The board has begun a recruitment process to appoint a permanent managing director.

Nowosad brings over 10 years of executive leadership experience in regulated businesses, including financial services and energy. He was most recently managing director at AEL Capital Partners and previously served as CEO of Compliance Group. Nowosad has also engaged with advisers, distribution partners, and colleagues across LSL Financial Services to help shape the next phase of the division’s growth.

In its most recent results for the 2025 financial year, LSL’s financial services division reported a 28% increase in profit to £11 million year-on-year, with market share rising from 11.8% to 12%.

This leadership change is relevant to UK letting agents and inventory clerks as LSL Financial Services oversees several key subsidiaries in the property and mortgage sector. The transition may influence the direction and operations of these businesses in the coming months.