Zopa chief announces replacement as he becomes executive chairman

The chief executive officer (CEO) of Zopa has stepped down from the role to become executive chairman instead, the peer-to-peer lender announced over the weekend.

Giles Andrews will change roles immediately and be replaced by chief operating officer Jaidev Janardana.

The shuffle will allow Andrews to concentrate his attention on key external stakeholders, as well as chairing and managing the board of directors.

Andrews said: "Jaidev has shown he has the right mix of skills, vision and focus on execution that we need and I am delighted to announce his appointment as CEO.

"He is the best person to take Zopa to the next level."

The news comes after the company recently surpassed the £1bn lending mark.