Peer-to-peer lender Folk2Folk appoints new CEO to drive growth plans
Folk2Folk, one of the only peer-to-peer (P2P) finance companies in the world with a high street presence, announce the appointment of Jane Dumeresque as Chief Executive Officer. “We are delighted to welcome Jane into our growing company,” said Tim Sawyer, Chairman of Folk2Folk, CEO of the government funded Start Up Loans programme and former Founder of Cahoot online bank.
“Folk2Folk has seen tremendous success since it launched in 2013 and in only two years has introduced more than £50m in loans. As we expand our successful model of personal service and local focus, the timing is now right to appoint a Chief Executive Officer.”
Folk2Folk introduces people looking for a good return on investment (currently 7%) with organisations and individuals looking for interest-only finance and funds are secured against property (not their family home). There is no maximum age limit and it typically takes seven days from application for the borrower to be able to access funds. The company differs from some other P2P companies in that it is a true peer-to-peer; only introducing funds from people not institutional money, and has high street agencies rather than being simply an online platform.
“We executed a national search for the best candidate,” Tim continues, “and are confident that Jane’s excellent background in financial services and her focus on expanding markets, combined with her passion for service excellence, will bring shape and disciplined execution to our growth strategy”. Jane brings significant experience and an extensive track record in financial services.
She is a qualified chartered accountant with an MBA from the London Business School and brings more than 25 years of financial services experience and over 10 years at Board level both as an executive and non executive director. Jane’s previous role was Director and Company Secretary of AIM quoted AFC Energy plc.
“I am extremely impressed by Folk2Folk and excited by this opportunity,” said Jane, “I have joined at a very interesting time and am working with the Board and executive team to deliver a robust growth program.
“Folk2Folk is a very dynamic company which is punching well above its weight, with a high quality loan book, a loyal and supportive customer base and significant repeat business. I am very excited by this opportunity and the company’s potential.” After qualifying as an ACA with KPMG, Jane spent five years at Citicorp and held senior roles at Gordon House Securities, JD Capital Management Ltd, Principal Investment Management Ltd and Lawshare Ltd. From 2006 to 2009 Jane served as Group Finance Director of AIM-quoted financial services firm, Syndicate Asset Management plc (now called Ashcourt Rowan plc), which had over 320 employees and an annual turnover of over £45m during that period.
Following this she was Director of Development and External Relations for Ardingly College. Until earlier this month when the Company was taken over, Jane was also a Non-Executive Director of JapanInvest Group plc, a pan Asian equity research and sales business listed on the Tokyo Stock Exchange where she chaired the audit committee. Jane has relocated from Sussex to the Westcountry to take up the role at Folk2Folk’s headquarters in Launceston, Cornwall.
