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Peer2Peer Finance News | June 26, 2019

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Crowdstacker appoints credit committee chairman

Crowdstacker appoints credit committee chairman
Kathryn Gaw

CROWDSTACKER has hired former RBS senior corporate director Ken Hillen as its new credit committee chairman.

The peer-to-peer business lender announced the new appointment on Wednesday. Hillen has spent 40 years working in the financial services sector, having previously held roles at RBS, Anglo Irish Bank and Bank of Ireland.

Crowdstacker said that Hillen will be tasked with “re-aligning all the lending and monitoring processes to prepare Crowdstacker as it makes changes to its business throughout 2019.”

Last year, Crowdstacker told investors that it planned to expand its savings and investment product range, and Hillen’s appointment is expected to facilitate this.

Karteek Patel, chief executive of Crowdstacker, said that Hillen is the first of several new senior team members that the firm will be hiring over the coming months.

“He has a vast wealth of experience working in financial services both with large corporates and boutique businesses, which makes him an ideal choice for us,” Patel added.

Read more: Crowdstacker investors in disarray over recovery of £7.5m bad loan

“This ability to understand the way larger banks operate amalgamated with a knowledge of the innovations taking place in alternative investment will help us to continue to challenge what doesn’t work in traditional finance without losing sight of the things that do.

“We’ve always aimed to take a measured and pragmatic approach to ensure that financial technology is used to make the customer experience better, rather than just for the sake of using technology. Ken’s guidance is going to help us to continue achieving this.”

Hillen said that Crowdstacker’s vision of how investing and saving could and should be accessed and used by customers is “extremely compelling”.

“I’m very much looking forward to participating and contributing to bringing this vision to life,” he said.

Read more: Crowdstacker’s Amicus investors “will be repaid in full”