By Roger Baird on 28th August 2019
The Scottish peer-to-peer lender announces a raft of new hires as it bids to get closer to small business firms.
LendingCrowd has hired four new senior business development managers as the peer-to-peer lender bids to boost “face-to-face relationships” with clients.
The Scottish small business lender has appointed Chris Mitchell, who spent more than 15 years at Royal Bank of Scotland and Clydesdale Bank. He will be the platform’s senior business development manager responsible for Edinburgh and the surrounding area.
It has also hired Anthony Allen, with more than a decade’s banking experience, who will cover Glasgow and the central belt area. He will work alongside Fraser McKay, who, the firm said, has held a variety of finance roles in a career spanning more than 30 years.
Finally, the Edinburgh-based lender has appointed Keith Hunter, who it said is an experienced business developer and sales manager, will work with businesses across Aberdeen and the north-east of Scotland.
Closer to customers
LendingCrowd head of origination Adrian Innes (pictured) said: “As the banks retract into call centres and continue to close their branches, we understand that customers want a face-to-face relationship with their funder.”
He added: “That’s why I’m delighted LendingCrowd is bucking the trend by appointing four senior business development managers, each with significant experience and accredited banking careers.”
The platform, founded in 2014, said the new hires pushes its staff above 40. It has originated over 730 loans to small firms across the UK, totalling more than £64m since its launch. Peer-to-peer lenders, and digital banks, grew in the aftermath of the 2008 financial crisis as banks cut back on their small business lending, fearing defaults.
Last month, LendingCrowd signed an agreement with data firm Brismo to provide independently verified performance metrics for investors.
Brismo’s platform provides detailed loan book analysis, including loan origination figures, risk bands of borrowers, term and interest rate of outstanding principle and independently verified data on the arrears and default rate.