Mia Drennan, founder of GLAS (Global Loan Agency Services), built a £1bn business starting with just £6,000 on a credit card. The idea came after the 2008 financial crash, when she saw an opportunity to provide impartial debt administration services for large loans, filling a gap left by faltering banks.
Drennan's career began in temping before landing a role at KPMG, then moving to Simmons & Simmons to learn about debt repackaging. She later set up a structured finance business for Bank of New York Mellon, turning it into a multi-million dollar revenue line. After being passed over for a promotion in 2005, she launched a headhunting firm, Square Mile Connections.
In 2011, Drennan and business partner Brian Carne invested £6,000 to start GLAS. It took 400 meetings over four months to secure their first deal in June 2012. Today, GLAS has 14 offices globally and is valued at £1bn, with Drennan's stake worth £230m. She was named EY's 2025 Entrepreneur of the Year.
Drennan advises entrepreneurs to decide early whether their business is for lifestyle or legacy. She recalls celebrating early deals by ringing a bell, but it became so frequent it annoyed staff. Now they use a gong for major milestones.
