- NPSO confirms the representation of its newly-created Participant Advisory Council
- FCA proposes actions to improve competition in the investment platform market
- Equifax research reveals a lack of awareness of banking options among Brits
- Nationwide puts weight behind major campaign to improve financial capability-Open Banking for Good aims to close financial capability gap in the UK
- ESMA issues first set of technical standards under the Securitisation Regulation(SR) containing both draft regulatory and implementing standards (RTS/ITS)
- Scope Ratings says there are limited impacts from the ECB’s latest bad-loan initiative
- IPC wins the highest rankings by the financial markets industry in the 2018 Waters Rankings expired
- JP Morgan reports record results in second quarter expired
- Metro Bank launches developer portal expired
- Arrow Global working with Xactium platform expired
- Bezant a key sponsor at the Beyond Blocks Summit in Seoul expired
- Hyperwallet to facilitate mass payment distribution for Wordapp.com expired
10th July 2018
ArchOver hires new heads of lending & finance to help target £100m in loans
ArchOver, the peer-to-peer (P2P) business lending platform, has doubled down on its aim to facilitate £100m in loans by hiring financial experts David Swanson and Tom Malley as Head of Lending and Head of Finance respectively.
In their roles, Swanson and Malley will provide focused leadership to ArchOver as it expands its lender base and accelerates sustainable growth towards profitability. In particular, Swanson will lead the charge on attracting more institutional investors to lend over the platform.
“ArchOver is committed to being the premium brand in the P2P sector,” commented Swanson. “It provides the security and control craved by institutions and retail investors alike. As an ArchOver lender in my previous role, I was impressed by the spirit of excellence and fairness in the team, and I’m excited to become a part of that.
I see a company that’s built a solid business model through a deep understanding of both the lender and borrower perspectives. Now it’s time to scale up engagement with both, and put the ArchOver name front-of-mind among leading funds and family offices–we’ve got the people and the service to make it happen.”
Swanson will bring an expert lenders’ perspective to ArchOver. With 30 years’ experience in portfolio management and securities, including at the Bank of Montreal, he will help develop products and propositions that cater to a lender’s expectations and grow the stable, patient capital operating over the platform. He will also oversee a sustained increase in the pool of retail investors lending with ArchOver as it grows.
Joining Swanson at the same time is Tom Malley, who has over a decade of experience in finance.
Malley brings experience of how in-depth analytics and business partnering can combine to create sustainable growth and profit, as well as experience in strategic financial planning at Enova Plc. He will help ArchOver’s senior leadership set a course for sustained growth and profitability over the coming months.
Malley said “As P2P platforms grow, they have to expand two objectives in tandem: growth in the lender base, and growth in the borrower base. ArchOver has a great track record of balancing those two streams by treating borrowers as individuals and providing a high level of lender security. I am building on that advantage as we push for £100m in total lending. ArchOver provides a quality service, and I’m looking forward to helping the business sustainably scale up by matching growth in borrowers and lenders.”
“Following the launch of our Innovative Finance ISA(IFISA) and the appointment of Bill Johnston as non-executive director, ArchOver continues to stride forward,” concluded Angus Dent, CEO. “David and Tom bring serious clout to the team, and their appointments will shift us up several gears on lender recruitment and profitability.
Time and tide wait for no man–we’re investing in our people, strengthening our leadership and we’re ready to see a significant boost in lender numbers and revenues as a result. It’s pedal to the metal–as usual.”