FOLK2FOLK has announced that its chief marketing officer (CMO) Giles Cross has been promoted to chief executive with immediate effect.
The Cornwall-headquartered peer-to-peer lender, which originates funding for local and rural businesses, saw its previous chief executive Jane Dumeresque step down last September. Chairman Tim Sawyer held the role of executive chairman in the interim period before Cross’ appointment.
Cross (pictured below) joined Folk2Folk as CMO in June 2017. He has over 25 years of financial services experience, most recently as a member of the senior leadership teams at wealth managers Sanlam UK and The English Mutual Group.
A spokesperson for Folk2Folk told Peer2Peer Finance News that the company is not searching for a new CMO to replace Cross. Instead, Cross will continue to oversee the marketing activities and his previous duties will be spread across the rest of the marketing team, the spokesperson said.
Folk2Folk said on Wednesday that Cross will implement the company’s business strategy, positioning Folk2Folk as the ‘go-to’ provider for rural and entrepreneurial local businesses looking to secure finance for growth, development and diversification, while ensuring that its loans offer an attractive opportunity for investors.
“Our intention is to build a best loved, UK financial services brand; a business built on the value of fair exchange, that delivers stakeholder and shareholder value in equal measure, with a significant national presence: online, in the high street and in the mind of the consumer,” said Cross.
“Our unique local lending offering and asset backed approach provides a fair, transparent and tangible form of finance that’s attractive to both lenders and borrowers.”
“Giles has demonstrated dynamic leadership qualities since joining Folk2Folk,” added Sawyer. “His clear passion and understanding of our purpose and what we seek to achieve combined with his vision, skillset and clear ability to execute, make him the ideal person to lead us through the next stage of our growth. I look forward to working with him and helping him achieve his goals for the business.”