Interpath will launch a Loan Portfolio Diligence (‘LPD’) offering in August 2024 following the appointment of securitisation specialist John Midgley to its Financial Services Deal Advisory practice. The proposition aims to address growing demand for deeper and more insightful loan portfolio diligence in the market.
Interpath’s LPD team will provide in-depth, tailored analysis and testing of loan portfolios for lenders and originators initially across private securitised structures and loan portfolio sales transactions. The proposition will deliver factual reporting and opinion-based diligence on organisations’ origination and servicing processes and their loan portfolios throughout their lifecycle.
The team will also quickly look into providing this service in respect of public securitisations which has to date been the preserve of the Big 4. With Interpath’s heritage, securitisation experience combined with John’s many years servicing the public securitisation loan diligence market, through conducting agreed upon procedures testing and reporting, the Interpath LPD team will be well-placed to bring a new and fresh approach to this market.
LPD will form part of Interpath’s wider structured finance and securitisation services to the debt markets, led by Managing Director Jenna Picken, and support its wider Financial Services Debt and Capital Advisory proposition headed up by Stuart Mogg.
John will join Interpath in August 2024 as a Director and has almost 25 years’ experience in the structured finance and securitisation market across multiple asset classes. He began his career at KPMG in financial services audit, spent time as a senior securitisation analyst at HBOS, before rejoining KPMG to support the growth of its securitisation and transaction services business in the UK and UAE.
Jenna Picken, Head of Securitisation at Interpath Advisory, said: “Loan Portfolio Diligence is an important aspect of any transaction and I am delighted to welcome John to the team as we continue to deepen Interpath’s reach into the securitisation market. The combination of John’s significant background in AUP and portfolio diligence, and the broader team’s experience in executing securitisations as both originators and lenders, will enable the Interpath LPD offering to deliver real insight into the results of testing, for both investors and originators.”
Nick Parkhouse, Head of Financial Services Transactions at Interpath Advisory, said: “We are methodically assembling an exceptional financial services transactions team, and I am incredibly excited to announce John’s addition to our Loan Portfolio Diligence (LPD) offering. Lenders and originators have long expressed frustration and a need for LPD services that provide insightful and judicious analysis of loan portfolios, surpassing the standard agreed-upon procedures, and offering comprehensive support throughout their lifecycle. John is an outstanding professional, and it is a genuine pleasure to welcome him to our team. His expertise will be instrumental in addressing this critical market need and enhancing our distinctive diligence proposition for our clients in the sector.”
Commenting on his appointment, John Midgley, Director and Head of Loan Portfolio Diligence at Interpath, said: “Interpath has given me the mandate to bring a fresh, innovative and progressive approach to loan portfolio diligence in the securitisation market. We have a proposition that will offer tailored and opinion-driven assessment of loan portfolios and that can flex with the natural growth of the originator. The opportunity to make such an impact on the market brought me here and, above all, the ability to work closely with a truly integrated, multi-disciplinary team dedicated to the financial services sector. I look forward to engaging with contacts from across the market as we take LPD forward.”
