Board shake-up at RateSetter
Metro Bank’s new chief financial officer (CFO) James Hopkinson has joined the RateSetter board, while its chief risk officer Richard Lees has stepped down.
Hopkinson, who is a chartered accountant, joined Metro Bank this month from ClearBank where he has been CFO since 2019. He previously spent nearly two decades at Standard Chartered in roles including CFO of regions and clients, CFO of global retail banking and global head of investor relations.
Read more: RateSetter loans boost Metro Bank balance sheet
Meanwhile, Lees has stepped down from the RateSetter board as he is leaving Metro Bank to take up a new role, a spokesperson told Peer2Peer Finance News via email.
The board changes were revealed in documents filed with Companies House.
Lees joined the RateSetter board back in March, joining Daniel Frumkin, chief executive of Metro Bank, RateSetter co-founders Rhydian Lewis and Peter Behrens, RateSetter’s chief financial officer Harry Russell, non-executive chairman Martyn Scrivens, and non-executive director Anne Grim.
RateSetter was an independent peer-to-peer lending platform until late 2020, when it was bought by Metro Bank in a deal worth up to £12m.
RateSetter loans are now offered in Metro Bank branches and has helped the bank boost its consumer lending.
Metro Bank saw its consumer lending increase to seven per cent of its total loanbook in 2021, up from two per cent the previous year.