LendInvest has promoted Rod Lockhart to chief executive, following Christian Faes stepping away to become executive chairman.
Having joined LendInvest in 2015 and formerly being head of capital markets and fund management, Lockhart (pictured left) is a long-serving member of the management team and now joins the company’s board of directors.
Faes (pictured centre) co-founded the firm in 2008 with Ian Thomas (pictured right).
Faes said: “After 11 years my co-founder and I are extremely proud of what we’ve built.
“LendInvest is a powerhouse in UK fintech – a company that has raised almost £2bn, has been consistently profitable, and has proven that it is a financially viable and sustainable business.
“The company is in an excellent position and no one is better placed than Rod to take over day-to-day management of the business.
“This will allow me to focus on what I love doing as a founder and entrepreneur, which is the outward facing work for the company and working on our strategy and vision.”
Lockhart has had a close working relationship with Faes and Thomas even before joining LendInvest.
Between 2013 and 2015, Lockhart acted as LendInvest’s external fund manager while working as a senior director at CBRE.
Faes added: “Ian and I have worked with Rod for more than seven years, both while he was at CBRE and then as part of our team, and he has been an important partner and instrumental in helping us achieve the success that we have.
“LendInvest remains a founder-led business and I am still completely committed to building the leading mortgage lender in the UK.
“I’m looking forward to working closely with Rod, the wider team, and the board as we roll out the company’s long-term strategy.”
Lockhart said: “I’m honoured to become chief executive of LendInvest at such an exciting time in its growth.
“Under Christian’s leadership, LendInvest has become a powerhouse for UK fintech – one that is consistently profitable and able to demonstrate its sustainability, while investing in innovation and continually challenging outdated industry norms.”
Chris Barnes, partner of Atomico & board director of LendInvest, added: “We’re delighted to see this natural shift in the LendInvest leadership team.
“The company and its shareholders will continue to benefit from the clarity of Christian’s vision for LendInvest over the long-term and will reap the rewards of Rod’s stewardship at an operating level.
“This is promising news for one of UK fintech’s biggest success stories.”