Formerly managing director of the consumer lending division and chief operating officer at Shawbrook, McAuliffe joins Wellesley & Co with extensive experience of the challenger banking market, having been part of the executive team that led Shawbrook’s initial public offering last year.
As the new managing director, McAuliffe will be responsible for implementing the P2P platform’s strategy for continued growth in retail investor inflows throughout 2016 and beyond.
Wellesley & Co says it is still the only P2P platform in the industry that invests its own capital in every loan. The firm’s lending volumes have more than doubled in the last 12 months, reaching almost £300 million, and with more than 20,000 registered P2P lenders on its books.
Graham Wellesley, Joint CEO & Chairman, said:
“We are delighted to welcome Nick to Wellesley & Co. His wealth of financial services experience will be extremely valuable as the alternative finance industry makes further progress in challenging the position of the establishment providers. The appointment of a managing director specifically for our peer-to-peer business reflects our long-term commitment to the sector.
“Wellesley’s unique model of secured lending and risk-adjusted returns is proving extremely popular with our customers – Nick will expand our offering to an even wider audience in 2016.”
Nick McAuliffe added:
“It is an exciting time to join Wellesley. Their growth over the last number of years has been very impressive. The depth of financial expertise within the organisation is unique in a young industry that includes many tech start-ups. I hope to build on this growth, while ensuring Wellesley continues to offer customers innovative, high value investment products that offer consumers a genuine, accessible and trustworthy alternative to those available from the establishment providers."
