LendInvest appoints VP of compliance

LendInvest has appointed Willem Wellinghoff as VP of compliance.

Wellinghoff is responsible for leading the compliance function, setting and maintaining LendInvest’s compliance and risk management strategy. He also serves as a member of the LendInvest’s Governance Committee for Compliance and Risk.

Wellinghoff boasts extensive compliance experience having spent a decade at Cabot Credit Management, a leading credit services firm, initially as legal counsel and then as head of legal and regulatory affairs.

Since 2012, Wellinghoff has served as a special advisor to the board of the Credit Services Association, the trade body for debt recovery agencies and allied professional credit services, focusing on the migration of consumer credit regulation from the Office of Fair Trading to the Financial Conduct Authority.

Additionally he is a regulatory mentor to FinTech startups participating in the Barclays Accelerator programme. He also acts as legal and regulatory mentor for CommuterClub, a FinTech firm offering commuters the chance to enjoy the savings available with an annual travelcard, without the large upfront cost.

Christian Faes (pictured), co-founder and CEO of LendInvest, said: “At LendInvest we are very serious about lending responsibly and meeting our obligations to investors, as we build our financial services franchise. Willem has an impeccable compliance pedigree, and is the perfect person to fill this crucial role.”

Wellinghoff added: “The emerging FinTech industry is subject to ever-growing layers of regulation. I’m excited to take my experience of advising in this sector to a role within a team where where compliance and ethics is core to its culture.”

Wellinghoff joins a growing team at LendInvest in the company’s central London headquarters, where staff numbers have risen 200% over the last year.