Peer-to-peer real estate lender LendInvest has appointed Stephan Wilcke (pictured), the former executive chairman of OneSavings Bank, as senior adviser to its management team.
Wilcke is the first member to be appointed to a new advisory board set up by the company. His role will include advising management on regulation and market expansion, including its strategy to extend into the broader mortgage market. Wilcke is an existing investor in LendInvest loans.
Wilcke was at the helm of OneSavings Bank when it became the first UK challenger bank to list on the London Stock Exchange in June 2014. After its listing, he continued to serve on the bank’s board as a non-executive director until May 2016. Wilcke was also the CEO of HM Treasury’s Asset Protection Agency, which ran between 2009 and 2012 to help banks repair balance sheets in the wake of the global financial crisis.
LendInvest is backed by Niklas Zennstrom’s venture capital fund, Atomico. It was founded in 2013 and has originated more than £660 million of loans.
The firm reported closing 14 real estate development finance deals during the first four months of its development lending strategy. The loans were understood to have a combined value of around £40 million. LendInvest launched its development finance team in December 2015 with the hiring of Steve Larkin from Royal Bank of Scotland.
“Having followed the progress of the team for the past three years in various capacities, I have been incredibly impressed by what LendInvest has achieved. They are building a company with a distinctive culture that blends maturity with a desire to do things differently,” said Wilcke.
“The financial services world is one that’s subject to ever-growing layers of regulation, with new entrants like us under intense scrutiny. An open door to Stephan’s battle-hardened skills and extensive network will be invaluable to us as we continue to grow,” added Christian Faes, co-founder and CEO of LendInvest.