Fellow Finance rejigs management team

Fellow Finance has completed an overhaul of its management team following the departure of its Chief Financial Officer (CFO).

The CFO of Finnish peer-to-peer lender Niko Stark left the company last month and CFO Christina Wallenius took over on an interim basis.

She will also join the management team.

Wallenius only joined Fellow Finance in September from Evli Bank.

The Fellow Finance leadership team now consists of Wallenius, Managing Director Teemu Nyholm, Investor Accounts Director Antoni Airikkala, Legal Affairs and Operations Director Linda Magnusson, Consumer Loans Director Juha Saari and director of corporate finance Miikka Silvonen.

It comes as the platform prepares to launch a banking brand next year following its merger with Evli Bank.

He said the new bank would be “digital and customer-centric” with “a strong capital adequacy in Finland” to serve both private clients and small and medium-sized businesses.

Nyholm said it would expand the lender’s customer base, reduce its financing costs by attracting deposits and improve profitability.

The platform has also entered the buy-it-now market with the launch of Fellow Lasku, which offers consumers the option to purchase online with a 30-day interest-free bill or in flexible monthly installments. .

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