ArchOver has hired David Swanson and Tom Malley as head of lending and head of finance, respectively.
In their roles, Swanson and Malley will provide leadership to ArchOver as it expands its lender base and accelerates sustainable growth towards profitability.
Swanson will be responsible for attracting more institutional investors to lend over the platform.
Swanson has more than 30 years’ experience in portfolio management and securities, including at the Bank of Montreal.
He will help develop products and propositions that cater to a lender’s expectations and grow capital operating over the platform.
Joining Swanson at the same time is Tom Malley, who has over a decade of experience in finance.
Malley brings has experience in strategic financial planning at Enova Plc. He will help ArchOver’s senior leadership set a course for sustained growth and profitability over the coming months.
Commenting on his new role, Swanson said: “ArchOver is committed to being the premium brand in the peer-to-peer (P2P) sector. It provides the security and control craved by institutions and retail investors alike. As an ArchOver lender in my previous role, I was impressed by the spirit of excellence and fairness in the team, and I’m excited to become a part of that.”
Malley said: “As P2P platforms grow, they have to expand two objectives in tandem: growth in the lender base, and growth in the borrower base.”
He added: “ArchOver has a great track record of balancing those two streams by treating borrowers as individuals and providing a high level of lender security. I’m looking forward to helping the business sustainably scale up by matching growth in borrowers and lenders.”
Angus Dent, CEO at ArchOver, commented: “Following the launch of our Innovative Finance ISA and the appointment of Bill Johnston as non-executive director, ArchOver continues to stride forward.”
He added: “David Swanson and Tom Malley bring serious clout to the team, and their appointments will shift us up several gears on lender recruitment and profitability. Time and tide wait for no man—we’re investing in our people, strengthening our leadership and we’re ready to see a significant boost in lender numbers and revenues as a result.”
