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Appointment of New Chief Executive Officer

Press Release

17 Apr 2018

The Board of Directors of Lend & Borrow Trust Company Ltd (LBT) are pleased to announce the appointment of John Butler as Chief Executive Officer and Director, succeeding founder James Turk. John has been seconded to LBT by Goldmoney Inc, the world’s leading gold-based financial services firm, where he served as Vice President, Head of Wealth Services. James Turk continues in his role as a Director of Goldmoney and is a shareholder of LBT.

LBT operates the world’s first and only regulated peer-to-peer (P2P) lending platform on which all loans are collateralised by physically-allocated precious metals, enabling borrowers to access lower-cost funding while reducing the credit risk borne by lenders. LBT’s unique value proposition extends to both individuals and businesses and is available to qualifying clients around the world.

“Having achieved FCA regulatory approval and a proof-of-concept loan book comprising both individual and business clients, James Turk has positioned LBT for rapid growth in the well-established P2P lending market,” said John Butler. “While the vast bulk of P2P lending is unsecured, and has yet to be tested through a material economic downturn, LBT provides a lower-cost, lower-risk solution for borrowers and lenders, respectively.”

“While LBT’s business may indeed be innovative when viewed in context of the P2P lending market and the FinTech industry generally, in fact it is an example of going ‘Back to the Future’. Before the advent of modern banking practices focusing on unsecured lending, which increases risks, the vast bulk of bank lending was secured on collateral, including gold and silver which were still official money,” explains James Turk. “While today, amid national fiat currencies, precious metals are alternative rather than official money, they still provide what can only be regarded as the ultimate liquid global collateral. LBT thus takes the best lending practice established through the ages and combines it with cutting-edge FinTech to create a truly unique value proposition.”

Prior to joining Goldmoney, John served as a Managing Director at Deutsche Bank and Lehman Brothers, among other financial firms. He has worked in the US, Germany and the UK during his over 20-year career. He is also the author of two acclaimed books on finance, economic history and alternative investing, including precious metals. As James Turk explains, “John brings his extensive knowledge, international experience and networks to LBT at this exciting time in the firm’s development. I have full faith and confidence that he, and LBT, will succeed in transforming the P2P marketplace in time.”

For more information on LBT please contact Tania Hampton at info@lendborrowtrust.com or visit www.lendborrowtrust.com

 

 

LBT is authorised and regulated by the Financial Conduct Authority

to operate an electronic system in relation to lending. Your capital is at risk if you lend. View our Risk Disclosure.

 

This financial promotion has been issued and approved for the purposes of section 21 of the Financial Services and Markets Act 2000 by Lend & Borrow trust Company Limited, which is authorised and regulated by the Financial Conduct Authority (“FCA”)



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