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Lender appoints new operations chief

by Staff reporter9 minute read
The Adviser

Peer-to-peer lender SocietyOne has announced the appointment of Simon Schwarz as its new chief operating officer.

Mr Schwarz has over 13 years’ experience in the financial services industry, which includes working as the chief credit officer for the Australian arm of global specialist banking and asset management group Investec.

He is also an honourary fellow and lecturer and Macquarie University’s Applied Finance Centre.

SocietyOne chief executive Matt Symons said Mr Schwarz’s industry-relevant experience and capability will prove valuable as the lender enters a new phase of growth and maturity.

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“Simon was responsible for all lending decisions across a multibillion-dollar loan portfolio across a range of industries and products at Investec,” he said.

“We are excited to welcome someone of Simon’s calibre and breadth of experience to the team.”

Mr Schwarz said he is looking forward to building on the success of SocietyOne and using his expertise in risk, governance and banking operations “to create a robust and scalable organisational architecture that will underpin the company’s next phase of growth”.

“SocietyOne’s competitive advantage as a high-growth disruptive innovator is critically dependent on its speed and efficiency of learning,” he said.

“I’m excited to facilitate this process as a core competency in the business.”

The appointment of Mr Schwarz follows SocietyOne’s $25 million capital raising in February with a consortium of top-tier Australian investors including Consolidated Press Holdings, News Corp Australia and Australia Capital Equity.

[Related: AFG appoints boss for home loans division]

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