Today's City Moves are bank and lending-heavy, featuring challenger banking, peer-to-peer lending and a Shariah-compliant bank. Take a look at these movers and shakers:
Peer-to-peer lending platform RateSetter has appointed Joanna Wright as chief risk officer. She will start in the role on 11 September. Joanna joins RateSetter from GE Capital where she was chief risk officer for GE Capital Bank in the UK, leading a team of over 200 risk professionals with responsibility for prudential and enterprise risks across the bank. She was a member of the executive board and chaired the enterprise risk management committee. As chief risk officer at RateSetter, Joanna will be responsible for overseeing and managing credit risk across the consumer and commercial lending businesses as well as operational and conduct risk for the wider business. She will be a member of the executive team, attend meetings of the board and sit on the board risk committee.
OakNorth has appointed Navtej Nandra and Edward (Ted) Berk as non-executive directors. They will join OakNorth co-founders, Rishi Khosla and Joel Perlman, as well as chairman Cyrus Ardalan, deputy chief exec Graham Olive, finance boss Cristina Alba-Ochoa, and non-executive directors, Robert Burgess, Ajit Mittal and Gagan Banga, on the board. Navtej was formerly the President of online US brokerage firm E*TRADE Financial Corporation. Prior to joining E*TRADE, he was chief executive of Morgan Stanley Investment Management, and served on various boards including Morgan Stanley Huaxin Fund Management Company, and Morgan Stanley International. His career also includes senior roles at DTZ Holdings, BoozAllen and Hamilton. Ted Berk is a faculty member in the Finance Unit at Harvard Business School, the institution from which he graduated with an MBA as a Baker Scholar and Siebel Scholar in 2001. He retired as managing director of Bain Capital, one of the world’s leading alternative investment firms, in 2016 after spending nearly 20 years as a private equity investor.
Gatehouse Bank, a Shariah-compliant Bank based in London, has appointed Charles Haresnape as chief executive officer. Charles has taken over from Fahed Faisal Boodai, chairman and co-founder of Gatehouse Financial Group, who has acted as CEO of Gatehouse during the past year. Faisal will return to his role as chairman of the group. Charles brings with him extensive experience from Aldermore, a specialised lender in the UK, where he spent six years as group managing director, overseeing the mortgages arm. Over his career, Charles has worked in a number of senior lending roles, including at Royal Bank of Scotland where he headed mortgage intermediary sales for both the lender and NatWest for over 10 years.
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