Nimble CEO resigns

Gavin Slater has stepped down from his role as chief executive of Nimble, satisfied that he has executed the companywide transition that he was brought in to achieve.

In a post on LinkedIn, Mr Slater reflected he had been tasked with morphing the company into a broader provider of consumer lending products, from its earlier niche of payday loans.

“I leave feeling proud of what we achieved as a team,” he wrote.

“We successfully launched three new risk-based priced consumer finance products – AnyTime virtual MasterCard, personal and auto loans.”

The company had also developed a machine-based learning credit decisioning platform during his tenure.

A spokesperson for Nimble told Mortgage Business that chief financial officer Grant Mackenzie will assume the duties of CEO until the board finds a replacement.

“Gavin Slater has been a passionate driving force behind transforming Nimble as a non-payday lender – a vision that the board and executive team fully support,” the spokesperson said.

Nimble declared that it would begin transitioning away from high-interest, short-term loans in 2019, with the company revealing ambitions to become a digital bank.

It first launched as a payday lender in 2005, offering unsecured short-term loans.

[Related: BNK chair steps down]