Funding Circle names credit veteran as new chair
Funding Circle Holdings has announced the appointment of Ken Stannard as non-executive director and chair designate.
Stannard will assume the position on 1 January 2025. Following a transition period, he will take over from current chair Andrew Learoyd immediately following the firm’s annual general meeting (AGM) in May 2025.
Learoyd has chaired the Funding Circle board since May 2016.
“It has been a privilege for me to serve as chair of Funding Circle,” he said.
Read more: Funding Circle sells US arm for £33m to focus on UK
“I congratulate Ken on his appointment as my successor and am confident that under his leadership of the board, Funding Circle will continue to prosper and deliver value for shareholders.”
Stannard has almost 30 years’ experience in credit, lending and payments, and most recently served as chief executive of Cabot Credit Management. He has previously held senior executive roles at Lloyds Banking Group, Capital One and American Express.
Stannard will be appointed as a member of the nomination and remuneration committees on 1 January, and will become chair of the nomination committee after the company’s AGM.
Read more: Funding Circle launches cashback business credit card
“I am delighted to be joining Funding Circle and I look forward to working with the board and the executive team to drive forward the group’s strategy and ensuring that it continues to create significant value for all stakeholders,” said Stannard.
Funding Circle has also announced that Matthew King, independent non-executive director, will step down from the board on 31 December 2024.
“Following a thorough selection process to identify and select a new chair, we are delighted to welcome Ken to the board at an exciting point in Funding Circle’s journey,” said Geeta Gopalan, senior independent director at Funding Circle.
“His experience across a range of credit businesses will be invaluable to Funding Circle and its future strategic development.
“On behalf of the board, I would like to thank Andrew for his leadership and significant contribution to Funding Circle. He has successfully guided the company through challenging times and will be handing the reins over to Ken well positioned for the future.
“I would also like to thank Matthew for everything he has done for Funding Circle, especially his contribution as chair of Funding Circle Ltd, and wish him all the best for the future.”
Read more: Funding Circle nears profitability following origination boost
