RateSetter has appointed Cyrille Sallé de Chou as its new Chief Risk Officer. Chou will be migrating over from Lloyds Banking Group where has been the Credit Risk Director of Mortgages. In that role, he was said to have overseen one of the largest loan books in the UK. Prior to joining Lloyds, Chou spent time at Capital One where he was Chief Credit Officer for Europe.
RateSetter CEO Rhydian Lewis called Chou “highly capable, highly experienced and highly regarded.”
“He will be a real asset to our business as we continue to deliver value for our customers while carefully managing risk. I am delighted that Cyrille is joining RateSetter, and I look forward to welcoming him to our Executive Team.”
Chou called the appointment a “unique opportunity” to joing a marketplace lending platform at a “critical” juncture in its growth cycle. Chou explained he wanted to help RateSetter become a “mainstream financial services company.”
“I am particularly impressed by the clarity of RateSetter’s business model, which is based on truly unique and innovative customer propositions, setting standards that others have followed, such as the pioneering concept of the Provision Fund,” stated Chou.
Chou’s responsibilities will include all RateSetter credit as well as operational, conduct and regulatory risk. He is expected to officially begin his executive position this June.
RateSettter has facilitated over £1 billion in loans since platform launch. The online lender completed over £500 million in loans during 2015.