RateSetter
Michael Hoare.
Michael Hoare is joining RateSetter from PayPal
Hoare's appointment follows news earlier this month that chief risk officer Cyrille Salle de Chou has left the peer-to-peer lender after just six months. He $4 but left to become chief risk officer of HSBC's European retail operation, $4.
A spokesperson for RateSetter confirmed that Hoare is not a direct replacement for Salle de Chou and said the company is actively recruiting for his replacement.
Hoare says in an emailed statement: "I'm excited to be joining RateSetter at a key moment in its growth. The company has proved genuinely innovative in the six years since it launched and has a great track record in helping investors manage risk - I look forward to helping it build on that record."
RateSetter founder and CEO Rhydian Lewis says in an emailed statement: "Managing risk is central to what RateSetter does, and we're pleased to welcome an experienced specialist like Michael to our team. He will play a key role in helping us grow sustainably over the long term."