RateSetter’s first chief investments officer departs

Mario Lupori has left RateSetter after five years with the peer-to-peer lender.

Lupori was named as the platform’s first chief investments officer in November 2018, tasked with improving the product for customers and growing RateSetter’s customer base.

He was previously chief product officer at the platform and had joined as marketing director in 2015.

Lupori (pictured) helped RateSetter’s Innovative Finance ISA grow to more than £200m in subscriptions and had also been involved in developing a new product for financial advisers.

It is unclear if this will still go ahead now that Metro Bank is due to acquire RateSetter.

Lupori’s LinkedIn profile shows he left RateSetter in July, which was before talk of the Metro Bank deal was made public.

His job title is now listed as a board executive.

It is understood that his role at RateSetter has been taken on by another team member.

Lupori has remained supportive of RateSetter, with his latest LinkedIn posts referring to the Metro Bank deal and stating how proud he was of the work of the platform.

“The economic shutdown this year caused customers to fear that their investments would underperform, so they withdrew, removing all liquidity from the platform,” he said.

“It’s sad to see this turn of events. I’m proud of what we did at RateSetter.

“We certainly tried to do good by customers.

“To this day, no customer has lost a penny investing in RateSetter.

“By the same token, I’m delighted that Metro Bank’s acquisition will continue to protect existing customers and safeguard the jobs of many colleagues and friends.”

A spokesperson for RateSetter declined to comment.