Alternative financier Falcon Group is setting up a risk management division and has hired Mark Wyatt and Tim Esden to head up the team.
The group named Wyatt as chief risk officer (CRO) and said that he will develop a devoted risk management department with the expertise and depth to oversee its rapidly expanding operations. Wyatt’s background in credit risk includes 28 years at credit insurer Euler Hermes, where he was director of risk, information and claims before joining Falcon.
Esden joins Falcon’s risk management team as portfolio manager, following 14 years at Coface as head of its claims and debt collection department, so shares a strong background in credit risk.
“Falcon has become a leading player in the alternative finance industry, and in order to sustain this and continue growing, we must focus on depth as well as width,” said chief executive (CEO), Will Nagle. “This means ensuring the company’s risk function is ‘fit for purpose’, not just for now, but to support further growth.”
Falcon acts as an alternative source of innovative structured solutions for corporates and financial institutions globally, developing bespoke structures to finance, supply chain or working capital requirements for customers. The group, which has offices in Dubai, Jakarta, Jeddah, Singapore, London, Miami, Riyadh and Abu Dhabi, has provided more than US$7bn in funding for its clients in the past four years.
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