Leading marketplace lender completes overhaul of US capital markets team.
Funding Circle, the global marketplace for small business loans, has announced a pair of senior hires for its US business. Joanna Karger has joined the firm as US head of capital markets, while Richard Stephenson becomes US chief compliance officer.
Funding Circle was advertising five US-based capital markets roles in the early stages of the year, after former global co-head of capital markets Albert Periu departed the firm in December 2016. The company said then that it planned to re-model the US team to mirror its UK counterpart, with Sachin Patel heading up capital markets globally.
Karger has 30 years working in capital markets. Most recently she served as EVP of capital markets and chief financial officer at Renew Financial.
Stephenson was formerly chief compliance officer at Silicon Valley Bank, and has more than 30 years of experience in various senior roles at financial services institutions and law firms. His past roles include general counsel, chief compliance officer, chief risk officer, head of internal audit and interim chief executive officer at such companies as Bank of America, Union Bank, Washington Mutual Bank and Mechanics Bank.
"Joanna and Richard have deep experience in building and scaling robust financial services businesses, and we are thrilled they will be playing integral roles in Funding Circle's continued growth in the U.S. market," said Sam Hodges, co-founder and U.S. managing director at Funding Circle. "With their leadership, we will continue to invest heavily in compliance and operational controls, and focus on further diversifying the capital streams flowing into our growing marketplace."
AltFi is returning to Amsterdam for its second annual Summit in the city. The inaugural event last year was a roaring success, with key figures from across Continental Europe's alternative finance and digital banking sectors highlighted. These included Jeroen Broekema, managing director of Funding Circle Netherlands, and Mieke van Engelen, head of innovative partnerships at ABN AMRO's standalone lending platform, New10.