Funding Circle announced two additions to its U.S. leadership team today.
Joanna Karger is the new U.S. head of capital markets. Previously the EVP of capital markets and CFO of Renew, Ms. Karger started with the United States Treasury before moving on to Allianz and then McMorgan and Co.
“Funding Circle provides an opportunity for individual and institutional investors to share in the success of America’s small businesses,” Ms. Karger said. “I look forward to bringing this unique asset class to an even broader range of investors as we continue to diversify our capital base and build a strong, sustainable and transparent marketplace.”
Richard Stephenson joins as U.S. chief compliance officer. He has more than three decades of experience in senior management roles in law firms and financial institutions, including a term as Silicon Valley Bank’s chief compliance officer. He also served in such roles as general counsel, chief risk officer, interim CEO and head of internal audit at Bank of America, Union Bank, Washington Mutual and Mechanics Bank.
“A thoughtful approach to legal, regulatory and compliance is one of the important factors that sets Funding Circle apart in the industry,” Mr. Stephenson said. “As the world’s leading lending platform for business financing, I’m thrilled to join Funding Circle to help drive the company’s responsible growth in the U.S. market and further its mission to build a better financial world.”
“Joanna and Richard have deep experience in building and scaling robust financial services businesses, and we are thrilled they will be playing integral roles in Funding Circle’s continued growth in the U.S. market,” cofounder and U.S. managing director Sam Hodges said. “With their leadership, we will continue to invest heavily in compliance and operational controls, and focus on further diversifying the capital streams flowing into our growing marketplace.”
Funding Circle also introduced six-month loans with rates beginning at 4.99 per cent.