Wednesday, 9 May 2018

Funding Circle hires first female non-executive director ahead of £2bn float



Funding Circle, the UK's biggest peer-to-peer lender, will this week take another step towards a £2bn London flotation by naming its first female non-executive director.
 
Sky News understands that the company, which is targeting a listing soon after the summer, will announce that former O2 executive Cath Keers is joining its board.
 
 
Ms Keers, who is an experienced non-executive director in the retail, technology and logistics industries, will bolster Funding Circle's public market credentials as well as improving the gender balance in its boardroom.


Publicly listed companies are expected to have at least one in three female directors by the end of the decade, a target that few have so far achieved.


Sources said that Funding Circle was in the process of recruiting at least one other female non-executive.


Ms Keers' boardroom roles include Sage Group and TalkTalk, while she also chairs Ustwo Company, which provides digital services go companies such as Airbnb.


The peer-to-peer platform, which has now facilitated more than £4.5bn in total lending, is expected to be valued at between £1.5bn and £2bn when it floats in the coming months.


It has hired Bank of America Merrill Lynch, Goldman Sachs, Morgan Stanley and Numis Securities to lead what will be one of the biggest-ever listings of a British financial technology company.




SKY    News.