Funding Circle chief financial officer steps down: Peer-to-peer lender poaches replacement from Vanquis Bank
Funding Circle chief financial officer Sean Glithero said he was stepping down ‘to take a break’
Funding Circle has lost its finance boss amid tough conditions in the peer-to-peer loans market.
Sean Glithero, chief financial officer at the online lender since 2017, said he was taking ‘a break’.
Oliver White, from Vanquis Bank, a part of Provident Financial which hands credit cards to borrowers with a poor credit history, will replace him.
Investors seemed unsure what to make of the news of Glithero’s departure. Shares slipped 3 per cent, or 2.4p, at 83.2p.
Glithero will remain until he has handed over to White, who has a six-month notice period to work out at Vanquis.
Shares in Funding Circle, which matches investors who want to make a loan with small businesses seeking money through its online platform, are down 74 per cent over the last 12 months.