Alternative lender borro has announced that it has appointed a Co-Founder of Capital One Financial Corporation as its new Chairman.

Nigel Morris will lead borro’s next phase of development in online lending and its future as a liquidity marketplace for luxury personal assets, supporting the lender’s accelerated growth in both the UK and US.

Morris is currently the managing partner of QED Investors, a direct investment fund focused on high-growth companies based in Alexandria, Virgina. He also works in an advisory capacity with global investment firm General Atlantic Partners and international management consulting firm Oliver Wyman; alongside serving on the board of numerous for profit companies, including Red Ventures, Media Math and online payments provider Braintree. Nigel is active in the non-profit world sitting on boards of the London Business School and The Brookings Institution.

In his role, Morris will work with borro’s existing board of directors led by CEO and Founder Paul Aitken. The board includes non-executive directors Mark Blandford, the founder of Sportingbet; Paul Gratton, the former CEO of Egg; Tim Levene, founder of Augmentum Capital; Ben Tompkins, general partner at Eden Ventures and Guy Buckley-Sharp, the CFO.

Commenting on the appointment, Paul Aitken, said: “Nigel Morris is a perfect choice for role of chairman at borro. He brings a wealth of experience from years at the helm of fast-growing online businesses in the financial services and online payments space. We are excited about the future of borro as we develop into a liquidity marketplace for luxury personal assets and I’m delighted to have Nigel on board.”

Nigel Morris, chairman of borro, added: “borro is at a critical inflection point as it accelerates its growth in the US and embraces state of the art on-line marketing capability. I’m excited to be part of this stage in borro’s growth.”