LendInvest and Montello hires Head of Risk and Compliance
By Bridging Loan Directory -
LendInvest and Montello have announced that Mrinal Ray has been hired as Head of Risk and Compliance. Mrinal joins the group from the Bank of England where he was a Senior Associate, and prior to this Mrinal was with the Financial Services Authority for 12 years.
Mrinal 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.
Mrinal 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.
Mrinal 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, Mrinal 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, commented:
“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.”