27 February, 2014
LendInvest and Montello has recruited Bank of England senior associate Mrinal Ray as their new head of risk and compliance.
Ray, who was also with the Financial Services Authority for twelve years, will work between the two financial services businesses of LendInvest and Montello, assisting the businesses with managing the various risk and compliance issues.
This will include working with the three Montello funds, and their associated activities, and with Montello’s rapidly growing real estate lending business.
Ray will also be actively involved in peer-to-peer mortgage lending platform, LendInvest, and assisting the business with various risk and compliance issues, and working through the authorisation of the business with the Financial Conduct Authority.
Ray was previously involved with the Authorisations division of the Financial Services Authority, for mortgage businesses.
Through his work with the FSA and the Bank of England, Ray has been involved with the authorisations of many of the recently authorised mortgage lenders and banking institutions in the market over the last few years, and has a very deep understanding of the regulatory issues surrounding businesses like LendInvest and Montello.
Christian Faes, LendInvest co-founder and Montello managing partner, said: “We are excited to welcome Mrinal to our team, as he brings with him a wealth of experience, in what is increasingly a very complex regulatory environment in which we operate.
“We now manage three funds in two different jurisdictions, and have various bank funding lines with our Montello business. Then with LendInvest, we have a peer-to-peer platform which is one of the fastest growing in the world, and there are a huge amount of regulatory issues on the horizons for that industry. We look forward to having Mrinal assist us navigate this landscape.”