Lending Works has announced the appointment of Jason Mackay to its Board as a Non-Executive Director.
Mackay has vast experience in financial markets, for seven years he was co-head of hedge fund GLG’s UK equity business, responsible for running $3 billion of assets. Most recently he worked as a Managing Director at Morgan Stanley. Over the last couple of years he has invested in and helped numerous small companies, which means he brings a wealth of relevant experience to Lending Works.
Jason Mackay commented:
“I am very excited by how technology is challenging traditional business models and I believe peer-to-peer lending has the potential to grow very quickly. Its massive cost benefit over traditional banks enables it to offer much better rates, while the advancements in data collection make low risk and sensible lending decisions possible. I was happy to choose Lending Works as the place to invest as I was greatly impressed by the executive team and their technology, and I am very excited to be joining the Board.”
“We are very excited to welcome Jason to the Lending Works team. He brings with him a wealth of investment experience, contacts and insight that make him not only invaluable to our own business growth, but an expert adviser to our creation of the best savings products that our lenders really value.”
Lending Works launched last year as the first peer-to-peer platform to incorporate an insurance element into its platform. This revolves around its “Shield” tool – which offers a three-fold protection to its lenders, including a provision fund, insurance cover and protection against cyber crime.