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Peer2Peer Finance News | September 25, 2017

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GLI hires new COO after business turnaround

GLI hires new COO after business turnaround
Anna Brunetti

GLI FINANCE has hired Aaron Le Cornu as chief operating officer to replace Russell Harte, the business turnaround expert it had brought on board to streamline its group structure last year.

Le Cornu joins from Elian, where he held the role of chief financial officer and helped oversee the management buy-out of Ogier under the Electra Partners umbrella, and the later sale to Intertrust Group a year ago.

He will report to GLI’s chief executive Andy Whelan, replacing Harte from 1 July.

Harte recently helped the group re-shape its operational structure by shifting to a two-pillar model, consisting of Sancus BMS and Fintech Ventures.

The first pillar brings together GLI’s alternative finance lenders, including Amberton Asset Management, which now arranges fundraising for Sancus through securitisation vehicles.

And the second pillar comprises the firm’s portfolio of investments in innovative fintech platforms.

The move was part of a strategic review the group kicked off early last year after a loss-making 2015.

“On behalf of the board I would like to express our gratitude to Russell for his contribution to the group,” said Whelan.

“Over the past 12 months, Russell has played a leading role in the group’s 2016 strategic review, in particular in formalising the two pillar structure which is now central to the group’s value proposition.

“Russell improved financial risk management and compliance systems, and created an effective IT team which has made excellent progress enhancing the group’s online and other operational systems. I am delighted that, although he is moving to live in Sydney, he will continue to be available to the group in a consulting capacity.”

Meanwhile, he said Le Cornu’s “deep financial sector expertise and commercial acumen will prove invaluable as we grow the business.”

“I am delighted to join GLI at such an exciting time,” said Le Cornu.

“I can see the hard work which has gone into the group in repositioning its offering, and I look forward to helping Andy and the rest of the management team in driving its growth.”

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