GLI Finance revealed that Interim CEO Andy Whelan will be appointed by the lender permanently.
The board of directors considered the time commitment required for Andy to fulfil the role whilst still continuing to drive the firm’s subsidiary Sancus forward as Director of Lending, however the board was convinced that it would be possible to combine both roles.
“The board would like to thank the executive team for their commendable effort and commitment to the Company during this period of change,” said GLI Finance.
The news comes as GLI Finance also revealed the results of its strategic review as the company looks to invest and operate in niche SME businesses.
Last year GLI Finance increased its investment in peer-to-peer lender Platform Black as well as revealing its total loans over the year had grown by 120%.
However GLI Finance did reveal it was not going to be deploying any further resources P2P platform, FundingKnight, and has reached an amicable process of separation to allow it to remain a passive investor in the platform.
“There is still much to be done,” added GLI on its strategic review.
“We are working hard to put GLI on a firm footing for the future to harness the growth in the sector without compromising the sustainability of the business.
“Further updates will be provided as we push forward with our strategic review.”
GLI Finance’s executive team will now include Andy Whelan, CEO, Emma Stubbs, CFO, Marc Kromback, MD, and Louise Beaumont, Head of Public Affairs and Marketing.
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