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.
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Sarah Simpkins is the news editor across Mortgage Business and The Adviser.
Previously, she reported on banking, financial services and wealth for InvestorDaily and ifa.