Roy Warren, Managing Director of Folk2Folk, a peer-to-peer lending platform, is retiring and being replaced by Kawai Chung as Chief Executive Officer. According to a release, Warren is aiding in supporting a smooth transition. Warren, who became MD in 2019, will join the board as an independent director.
Chung is joining Folk2Folk after holding executive positions at SilverRock Financial Services (now part of GB Bank), Intriva Capital, and ARA Venn.
Chung is said to have experience in SME lending and structured finance, along with a track record in scaling lending businesses and building investor confidence. He is a Chartered Accountant and holds degrees from the London School of Economics and University College London.
Folk2Folk Chairman Tim Sawyer complimented Warren as having steered the company through a transformative period, delivering consistent profitability and embedding the values that set this business apart.
“We’re grateful for his leadership and pleased we’ll continue to benefit from his insight and experience on the Board. At the same time, we’re delighted to warmly welcome Kawai as CEO. His depth and breadth of experience in financial services and alignment with our mission make him the right leader to take Folk2Folk into its next chapter.”
Chung said his focus will be on strengthening their “lending proposition, deepening our broker relationships, and continuing to deliver value for UK SMEs and their introducers.”
Since 2013, Folk2Folk reports having originated over £780 million in secured lending to SMEs across the UK.
