Former head of markets at FIIG Securities, John Cummins, has been appointed as chief investment officer of marketplace lending firm, SocietyOne.
Announcing the appointment this week, SocietyOne said the appointment reflected the critical importance of its investor funders to the company's future growth.
It said Cummins would have responsibility for all of SocietyOne's funding requirements to support demand from an expanding number of borrower customers and this would include building on SocietyOne's existing network of investor funders who included large financial institutions, mutual banks, credit unions, high net worth individuals and self-managed superannuation funds (SMSFs).
It said Cummins would report directly to SocietyOne's chief executive and managing director, Jason Yetton.
SocietyOne announced last month it had reached the milestone of providing $200 million in total.