Christian Faes hands over the CEO reins at LendInvest

After co-founding and leading LendInvest as CEO for over a decade, Christian Faes this morning announced that he will be stepping aside from day-to-day management of the business.

In his place Rod Lockhart, formerly Head of Capital Markets and Funds Management, will take over the role.

Faes, recently named on AltFi’s Powerlist 50, will instead step into the newly-created role of Executive Chair.

In a statement, Faes said the move would let him: “focus on what I love doing as a founder and entrepreneur, which is the outward-facing work for the company and working on our strategy and vision.”

Lockhart previously worked at LendInvest’s external fund manager while at CBRE before joining the business in 2015 and leading LendInvest to grow its capital base to £1.8bn over the last four years.

“He has been an important partner and instrumental in helping us achieve the success that we have,” said Faes.

“LendInvest remains a founder-led business and I am still completely committed to building the leading mortgage lender in the UK. I’m looking forward to working closely with Rod, the wider team, and the Board as we roll out the company’s long-term strategy.”

Last year LendInvest saw multiple successes, including its first £259m securitisation—a project led by Lockhart—its fifth year of profitable growth, and funding lines from HSBC and the National Australia Bank.

On the flip side, the business’s long-awaited IPO was shelved as market conditions worsened following Funding Circle’s IPO and the political uncertainty around Brexit.

Atomico partner and LendInvest board director Chris Barnes said of the change in leadership: 

“The company and its shareholders will continue to benefit from the clarity of Christian’s vision for LendInvest over the long-term, and will reap the rewards of Rod’s stewardship at an operating level. This is promising news for one of UK Fintech’s biggest success stories.”