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RateSetter appoints City grandee to its board

The peer-to-peer lender has appointed Stuart Bridges as a new board member.

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Peer-to-peer lending platform RateSetter has announce that Stuart Bridges will join its Board on 1 September 2018.

Bridges, who will be a Non-Executive Director and will chair the Board Audit Committee, is also the Chief Financial Officer at Control Risks, the specialist risk consultancy.

He also holds a board position at the £1.5bn Caledonia Investments, a listed fund born out of the Cayzer family fortune from the shipping industry. The Caledonia portfolio, currently 6 per cent in cash, invests heavily in unquoted firms as well as listed equity and other funds. It currently has 32 per cent  of its portfolio in unquoted firms.

Prior to joining Control Risks, Stuart was the Chief Financial Officer at Nex Group (previously ICAP) which he joined sixteen years after becoming Chief Financial Officer at Hiscox. Before Hiscox, Stuart held positions in various financial services companies in the UK and the US including Janus Henderson Investments.

His appointment takes the number of Non-Executive Directors at RateSetter to four. The current Chair of RateSetter’s Board Audit Committee, Ian Boyce, will remain as a Non-Executive Director and Board member. Jim Gunner, former senior executive for group risk for HSBC Holdings, chairs the Board Risk Committee. RateSetter’s Board is Chaired by Paul Manduca who joined last July and is also Chair of Prudential.

Bridges said: “RateSetter is a fast-growing and dynamic business which is pioneering an exciting new, modern model of finance that, when fully scaled up, will be a game-changer for investors. I am looking forward to joining the Board and contributing to the next phase of the business’ development”.

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