Wellesley & Co, a peer to peer lending platform, has appointed Nick McAuliffe as Managing Director. The new hire was said to arrive as the P2P lender expects significant growth in 2016. Wellesley has made almost £300 million loans to date with over 20,000 registered investors. Wellesley currently offers loans, bonds and mini-bonds.
McAuliffe was previously MD of consumer lending and COO at Shawbrook, a retail and commercial bank. Shawbrook did an IPO last year and McAuliffe was part of the team that managed the offer. McAuliffe will be responsible for implementing the P2P platform’s strategy for “continued and significant growth in retail investor inflows throughout 2016 and beyond”. Wellesley stated hat McAuliffe brings a “challenger mind-set” to the online lending firm. Wellesley expects to appoint additional senior hires during the year as it moves into the mainstream. Wellesley notes that it invests its own capital in every loan offered on its P2P platform.
“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.”
McAuliffe said it was an exciting time to be joining the firm.
“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.”