The ex-Royal Bank of Scotland exec says there is strong under-utilised potential in alternative finance.
Peer-to-peer business lender Assetz Capital has added to its senior team with the appointment of Chris Macklin as chief risk officer.
Macklin has over 35 years of experience at RBS/NatWest, including four years as head of complex customer management and strategic relationship management.
His focus as chief risk officer will be to head up all of the platform's risk management operations as well as building framework already in place across the business, the firm said in a statement.
Macklin, speaking on his appointment to Assetz, said that there is strong under-utilised potential in alternative finance.
“While the traditional banking sector is saddled with many legacy challenges that it is struggling to address, it does have a very mature approach to risk. I’ll be ensuring we take learnings from this and ensure that Assetz Capital continues to be the industry benchmark when it comes to managing risk.”
Stuart Law, CEO and co-founder at Assetz Capital, said: “Chris brings extensive risk management experience at a time when our business is going from strength to strength, with significant growth in the loan book and the investor base.
“We always want to lead the peer-to-peer market when it comes to risk management – we know that this rigour ultimately benefits both our investors and borrowers. With Chris’ appointment, we are aiming to go further and establish the best practice standard in the wider alternative finance industry.”
Now in its sixth year, the AltFi London Summit returns on 18th March 2019 to 155 Bishopsgate. Last year proved to be a crucial turning point for the key players building the future of finance. Leading platforms launched oversubscribed IPOs, digital banks proliferated and mainstream financial institutions started their own disruptive propositions. With 2019 certain to be another landmark year, more questions will be asked by regulators with investor interest in disruption also poised for more rapid growth.