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Peer2Peer Finance News | June 26, 2019

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P2P Global Investments brings UK banking expert on board

P2P Global Investments brings UK banking expert on board
Michael Turner

P2P GLOBAL Investments (P2PGI) has brought in UK finance veteran David Fisher as an independent non-executive director.

Fisher received approval from the Financial Conduct Authority on Thursday to join the £833m alternative finance-focused investment trust’s board, bringing a wealth of experience to the position.

“David has more than 18 years’ experience in finance and I know he will bring to the board a powerful mix of knowledge and experience,” said Stuart Cruickshank, chairman of P2PGI.

As well as his new role, Fisher is a non-executive director of Leeds Building Society. He has held the same position within the Scottish government, where he was a member of the government’s remuneration group – a committee that oversees public sector pay policy.

Read more: Share buybacks boost P2PGI NAV

Fisher has also held the chairman position at property finance firm Amicus, and the same role on the business oversight board at the Law Society of England and Wales.

His CV includes chief executive of Sainsbury’s Bank, divisional director at HBOS and human resources director at Lloyds Banking Group.

Meanwhile, Simon King will take up the position of senior independent director from June 2018 as part of a scheduled rotation of the job.

He takes over from Michael Cassidy, who will continue as an independent non-executive director and the chairman of P2P Global Investments’ audit and valuation committee.

King is a director at specialist mid-cap investor Numis Asset Management.

P2PGI’s manager MW Eaglewood merged with Pollen Street Capital in November 2017 and has been taking part in share buybacks in attempts to boost performance and reduce the discount to NAV.

It said at the time that it will continue repositioning to specialist and secured assets with a higher risk-adjusted return and will accelerate the reduction in exposure to US consumer loans.