Funding Circle lures financial officer from U.K.'s Auto Trader

The marketplace lender Funding Circle has named an online auto sales executive as chief financial officer.

The London company on Monday said it has appointed Sean Glithero to the position effective immediately.

Glithero had been CFO at the British firm Auto Trader Group since 2012. Glithero succeeds Jeremy Bennett, who moved into a senior advisory role, according to a spokesman for Funding Circle.

Funding Circle, which specializes in small-business lending, last month hired a new U.S. head of capital markets and a new U.S. chief compliance officer.

Funding Circle said it has lent more than $3.8 billion to about 32,000 companies in the U.S., U.K. and Europe since 2010.

Andy Peters

twitter

MORE FROM ASSET SECURITIZATION REPORT

Securitization

Volkswagen raises at least $1.3 billion in auto ABS

Some recent performance deterioration in Volkswagen's managed portfolio vintages and securitization pools helped account for the increase in expected CNL losses.

By Donna M. Mitchell

November 21
Credit scores

CFPB's Chopra: AI can be the key to fairer credit scoring

Consumer Financial Protection Bureau Director Rohit Chopra said the FICO credit-scoring model has drawbacks in price, predictiveness and market competition, and stakeholders should develop a more open-sourced model that uses artificial intelligence.

By John Heltman

November 21
Apollo Global Management

Pivot Energy locks in $450 million warehouse facility to support solar projects

Pivot-HASI's portfolio consists of 96 projects, most of which are community solar facilities. Single off-take power purchase agreements for commercial clients make up the rest.

By Donna M. Mitchell

November 21
Originations

Mortgage defect growth points to emerging concern

Critical defects increased for the second consecutive three-month period, with appraisal-related errors nearly doubling, Aces Quality Management said.

By Brad Finkelstein

November 20
Politics and policy

Regulators to pause major proposals until Trump takes office

In a congressional hearing, top officials from the Federal Reserve, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency said no new rules will be adopted or proposed this year.

By Kyle Campbell

November 20
ABS

volofin Finance makes its first securitization appearance raising $500 million

The collateral pool is static, with no reinvestment period. There are no concentration limits, and the loans have a weighted average remaining term of 4.6 years.

By Donna M. Mitchell

November 20