Funding Circle names Ken Stannard as chairman designate

Funding Circle said Stannard will replace Andrew Learoyd, who has been in the chairman's role since May 2016, following a transitional period and will fully transition into his new role following the group's annual general meeting in May 2025.

Stannard has previously held executive roles at Lloyds Banking, Capital One, American Express and Cabot Credit Management.

Senior independent director Geeta Gopalan said: "Following a thorough selection process to identify and select a new chair, we are delighted to welcome Ken to the board at an exciting point in Funding Circle's journey. His experience across a range of credit businesses will be invaluable to Funding Circle and its future strategic development.

"On behalf of the board, I would like to thank Andrew for his leadership and significant contribution to Funding Circle. He has successfully guided the company through challenging times and will be handing the reins over to Ken well positioned for the future."

As of 0850 GMT, Funding Circle shares were down 0.40% at 124.0p.

Reporting by Iain Gilbert at Sharecast.com