Folk2Folk appoints CMO and hires four new BDMs to help fuel business expansion
Specialist business P2P lending platform increases workforce by 10 per cent with strategic hires to expand Folk2Folk into new regions
7 June 2017: Folk2Folk, the peer-to-peer business lending platform has today announced a wave of new hires by investing in new staff to drive the growth of the business as part of its national expansion plans. This includes a strategic management appointment of a Chief Marketing Officer (CMO) and four Business Development Managers (BDMs) to help expand the sales team across new counties to support local businesses access the finance they require to grow.
Giles Cross, has been appointed as Folk2Folk’s Chief Marketing Officer in a newly created role and strategic hire for the business. Giles brings over 20 years’ experience in marketing financial services. Most recently, Giles was responsible for leading the marketing department at wealth management business Sanlam UK, where he established the business as a recognized award winning market leader for digital intelligence. He also previously worked at The English Mutual Group.
Giles will report into Folk2Folk’s CEO, Jane Dumeresque and will be responsible for leading the marketing, PR and business development teams as the business targets £1bn in cumulative loans in 2020.
In doing so, Giles is tasked with helping to re-position Folk2Folk as the go-to financial provider for local businesses looking for secured growth-finance, refinancing existing debt or start-up capital for new ventures as well as being an attractive investment opportunity for retail investors.
“There’s a growing understanding in financial services that the traditional models and associated behaviours of B2B and B2C are on the wane. The future is very clearly moving towards a human-to-human (H2H) approach. I’m delighted to join Folk2Folk, a company that is very much a H2H business and driven by its customers’ needs, supported by strong technology foundations. The team here want to set a new standard when it comes to making finance personal. It’s a great time to become part of the business,” Giles Cross, Chief Marketing Officer.
Jane Dumeresque, Folk2Folk CEO added, “I’m delighted to welcome Giles to the Folk2Folk team. His expertise across business development, marketing and communications will be invaluable in our next stage of growth. His passion for driving customer led businesses will help Folk2Folk stand out from the crowd as we expand across the UK, taking our human-to-human approach to finance, brand awareness and product offerings to both local businesses and investors.”
The business has also hired four new Business Development Managers to bolster its sales team to further drive sales, open-up new regional markets and increase Folk2Folk’s local presence in key strategic regions such as, Dorset, East Anglia, Cheshire and Gloucestershire. A further six BDM roles are set to be filled by the end of 2017, enabling Folk2Folk to grow its presence in key local communities across the UK.
The four new BDMs have a combined 90 years’ worth of business and commercial banking experience having worked in banks and other financial organisations previously. They are all very excited to be working for an alternative finance provider who looks at loan applications differently, in a holistic way and is able to say yes. By utilising existing networks and local business relationships, Folk2Folk’s new BDMs will be a welcome financial solution for local businesses looking for finance by offering interest only business loans.
Steve George will be responsible for Dorset bringing with him 15 years’ experience in financial services having worked as a senior relationship manager in corporate and commercial banking at NatWest covering West Dorset.
Jonathan Hill will be managing the East Anglia area and brings with him 34 years’ experience in commercial finance previously working at Barclays, Royal Bank Leasing Plc and General Capital Group pl
Andrew Buckley will be managing the business development for Cheshire having spent his last seven years with Handelsbanken in corporate banking and the previous six with Barclays as a relationship director.
Barry Chapman will be adding to our team in the Gloucestershire area and brings with him 32 years’ experience having worked most recently as Relationship Director at NatWest.
Jane Dumeresque said, “Investing in quality people through our business development team is core to our growth. It is important for a community focused business like Folk2Folk to deal with our clients face-to-face and be within touching distance. By hiring experienced people, we benefit from their local knowledge, contacts and established relationships with professional services which is so valuable in making a great start in those new regions. We are very happy to welcome Steve, Andrew, Barry and Jonathan to the team and look forward to helping them make Folk2Folk an important part of their local business community, helping to introduce finance to businesses that want to grow and thrive.”
Folk2Folk specialises in secured loans for businesses across the UK. Folk2Folk matches local businesses looking for finance with investors looking for a great return. Interest costs to the borrower (before fees) and investment returns to the investor range from 5.5% to 6.5% based on the LTV of the property which acts as a security against the loan and other criteria.
Notes to editor:
P2P lending is not savings and capital is at risk. P2P lending is not covered by the FSCS
Security in the form of property or land must be put up to underwrite the loan.
Folk2Folk serves local businesses across a range of industries from agriculture and farming, manufacturing, food and drink, hospitality, property development, renewables among a few.
Minimum investment is £25,000, no maximum limit
Folk2Folk offers simple straightforward, local lending and borrowing nationally, introducing businesses looking for interest only finance to local people looking for a good return on their investment, secured against property or land. Folk2Folk is one of the only P2P finance companies with high-street branches having lent over £150m since launching in 2013.