Ex-Greensill Risk Chief Lands At New Firm, Recounts Collapse

By Al Barbarino (August 24, 2021, 4:26 PM EDT) -- Supply chain finance company Finverity announced it has hired the former chief risk officer of now-defunct Greensill Capital to head up its own risk function, saying the firm intends to learn from the mistakes made by the onetime financial giant.

Brett Downes will oversee Finverity's risk management and chair its credit committee, reporting directly to CEO and co-founder Viacheslav Oganezov, according to Monday's statement.

Greensill, the main financial backer of U.K.-based Liberty Steel, collapsed earlier this year after its insurers refused to back loans tied up in its supply-chain finance and related businesses.

Financial giants including SoftBank and Credit Suisse were...

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