Cyrille Sallé de Chou joins from Lloyds Banking Group where he was the credit risk director for mortgages, overseeing one of the biggest loan books in the UK.
At RateSetter, Cyrille will be responsible for all RateSetter credit, and will oversee conduct and regulatory risk when he takes up the position in June.
“This is a unique opportunity to join one of the UK’s leading marketplace lending platforms at a critical point in its growth and help the business become a significant mainstream financial services company,” Cyrille stated.
“I am particularly impressed by the clarity of RateSetter’s business model, which is based on truly unique and innovative customer propositions, setting standards that others have followed, such as the pioneering concept of the Provision Fund."
Rhydian Lewis, CEO at RateSetter added that the platform was building a strong business based on managing risk.
“Cyrille is highly capable, highly experienced and highly regarded.
“He will be a real asset to our business as we continue to deliver value for our customers while carefully managing risk.
“I am delighted that Cyrille is joining RateSetter, and I look forward to welcoming him to our Executive team.”
Last month, RateSetter revealed it would be reviewing its provision fund coverage ratio to improve accuracy after it had been using less than 10% of it on a temporary basis to facilitate the delivery of larger loans.
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