FOLK2FOLK, the UK-wide marketplace lender for regional SMEs, has appointed experienced finance executive Gary Leitch as its new chief operating officer (COO).
Leitch is a highly experienced and respected financial services leader with a reputation for delivery, particularly for businesses looking to make a step-change. He brings to FOLK2FOLK 34 years of experience in the retail, SME and corporate markets, as well as extensive asset finance experience encompassing a series of senior appointments, including on the board at Lombard, and then at Paragon.
As managing director of asset finance at Paragon Banking Group, Leitch was responsible for successfully leading the business through a period of significant strategic, operational and structural change, integrating a group of businesses into the regulated banking environment. While more recently as interim Chief Operating Officer at JBR Capital Limited, Leitch successfully resolved several strategically important infrastructural challenges for that business.
As COO of FOLK2FOLK, to support the company’s growth ambitions, Leitch will focus on overseeing overall operational capability encompassing technology, finance, legal and people-related matters.
Roy Warren, FOLK2FOLK Managing Director said: “We’ve been strategizing and preparing the business for growth which includes bolstering internal expertise in terms of processes, credit, and risk assessment.
“I believe in bringing the right players onto the pitch at the right time, and Gary is the right person for FOLK2FOLK to bring in to play now.
“Gary is a well-respected heavy hitter within the sector. He has earned a reputation for getting things done and is a natural fit for our business. We both worked at Lombard and so I know from first-hand experience that he is a major asset to any organisation.
“Gary will play an important role in helping to galvanise our processes, our people and our plans in this next phase. I also see him as a strong asset in terms of Institutional partnerships.”
Gary Leitch, FOLK2FOLK Chief Operating Officer said: “I am excited by the opportunity to support FOLK2FOLK’s mission to put humanity back into finance and to create prosperity for Britain’s regions, both being ambitions that resonate with me. Finance should be a people business, and it sits well with the government’s levelling up agenda, so I’m thrilled to be working for a company that delivers on that.
“I’m impressed by what I’ve seen and eager to help FOLK2FOLK gear up for the next stage of its national growth journey.”
In recent years FOLK2FOLK has grown from a South West focused lender to becoming a UK-wide source of finance for small business owners, farmers and property developers in the regional parts of the UK. Funded by both private and institutional investors, the company also provides attractive, property-backed investment opportunities with zero investor losses to date. Since 2013, the marketplace lender has lent £544m to SMEs making it the second-largest peer-to-peer platform in the UK and one of the UK’s largest Innovative Finance ISA (IFISA) providers.