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|Wellesley & Co appoints new managing director|
|Tuesday, 16 February 2016|
Wellesley & Co has appointed Nick McAuliffe as its new managing director, as the peer-to-peer (P2P) platform plans for significant growth in 2016.
Formerly managing director of the consumer lending division and chief operating officer at Shawbrook, McAuliffe joins Wellesley & Co with extensive experience of the challenger banking market, having successfully been part of the executive team that led Shawbrook’s initial public offering last year.
As the new managing director, McAuliffe will be responsible for implementing the P2P platform’s strategy for continued and significant growth in retail investor inflows throughout 2016 and beyond. He brings a challenger mind-set that will drive Wellesley & Co to its next stage of development, at a time when alternative finance has moved firmly into the mainstream.
Wellesley & Co has a unique approach to lending, as the first and only P2P platform in the industry that invests its own capital in every loan. The firm’s lending volumes have more than doubled in the last 12 months, reaching almost £300 million, and with more than 20,000 registered P2P lenders on its books.
The company is led by a management team and board with substantial financial services experience, especially in a highly regulated environment.
Following a number of recent hires, and with further senior hires expected this year, McAuliffe embodies the firm’s commitment to specialist talent and its drive to build its retail investing and secured lending business.
Graham Wellesley, Joint CEO & Chairman said: “We are delighted to welcome Nick to Wellesley & Co. His wealth of financial services experience will be extremely valuable as the alternative finance industry makes further progress in challenging the position of the establishment providers. The appointment of a managing director specifically for our peer-to-peer business reflects our long-term commitment to the sector.
“Wellesley’s unique model of secured lending and risk-adjusted returns is proving extremely popular with our customers – Nick will expand our offering to an even wider audience in 2016.”
Nick McAuliffe, Managing Director, Wellesley & Co said: “It is an exciting time to join Wellesley. Their growth over the last number of years has been very impressive. The depth of financial expertise within the organisation is unique in a young industry that includes many tech start-ups. I hope to build on this growth, while ensuring Wellesley continues to offer customers innovative, high value investment products that offer consumers a genuine, accessible and trustworthy alternative to those available from the establishment providers.”
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