Borro CEO steps down from role

Alternative secured specialist lender Borro, has announced that Chief Executive Officer and Founder Paul Aitken is to leave the company. Aitken, who founded the company in 2008, led

Aitken, who founded the company in 2008, led Borro through its early growth stages online, expansion into the American market, and the launch of property lending in the UK. Since launch, Aitken  l has overseen over £260 million in lending across the UK and the US. In the last three years, the business has transformed itself into a secured lending platform for wealthy clients by building partnership channels with IFAs, Packagers, Wealth Managers, Private Client groups and Auction Houses. Today, the average luxury asset loan size is £50,000. With immediate

Today, the average luxury asset loan size is £50,000. John Allbrook (Non-Executive Chairman) will assume full executive responsibility for the company. Allbrook brings significant experience in aasset-backedlending having previously worked at GE Capital and GoIndustry as well as serving as Executive Chairman at Syscap, which he led through its successful exit to the Wesleyan Assurance Society in 2015. Paul Aitken said: ‘Obviously this was a very tough decision for me but the time is right. Borro started at a time when there was no one doing this kind of lending and growing the business from a start up to the company it is today has been a terrific experience. The business has matured a lot over the years and John is the right person to lead it onto the next stage of its development.’ John Allbrook said: ‘Paul has been an inspirational and visionary leader of Borro. It has been a pleasure working with him and everyone here wishes him well. He leaves the company well positioned for the future, which I am confident will be a bright one.

Paul Aitken said: ‘Obviously this was a very tough decision for me but the time is right. Borro started at a time when there was no one doing this kind of lending and growing the business from a start up to the company it is today has been a terrific experience. The business has matured a lot over the years and John is the right person to lead it onto the next stage of its development.’

John Allbrook said: ‘Paul has been an inspirational and visionary leader of Borro. It has been a pleasure working with him and everyone here wishes him well. He leaves the company well positioned for the future, which I am confident will be a bright one.