The award-winning community lender Salad Money has announced the appointment of Alex Marsh as Chair of its Board, succeeding Sir Tim Melville-Ross who held the role since Salad's launch in 2019.
EThe firm called it an important milestone as it continues to develop its lending platform, having become the UK’s largest community development finance institution (CDFI) and the first to be registered as an Account Information Service Provider with the FCA.
Alex brings over 20 years of leadership experience in financial and professional services, with a proven track record of harnessing technology to drive growth in the fintech and consumer lending sectors. As the former UK CEO of Klarna and a Chartered Accountant, Alex joined Salad as a Non-Executive Director in 2023.
In addition to his role at Salad, Alex is a Non-Executive Director of the Centre for Finance, Innovation and Technology (CFIT) and advises several fintech businesses. He is also Chair of Trustees for Charterpath, a charity he co-founded to connect schools and charities with volunteer financial expertise.
Alex assumes the Chair role at a time of rapid growth for Salad Money. Over the past five years it has lent more than £130 million to over 90,000 customers, earning over 9,600 five-star Trustpilot reviews. As pioneers in using Open Banking data to power lending decisions, it has set a new standard for fairness and transparency in credit, while also equipping consumers with tools to strengthen their financial resilience.
Alex Marsh said:
“Sir Tim has steered Salad Money through an extraordinary period of growth, helping the business earn the trust of customers, investors, and regulators alike. I’m immensely grateful for his guidance and support during this seamless transition.
"Salad is leading the way in tackling financial inclusion through the responsible use of Open Banking data. With an expert team and an innovative technology platform, we have a unique opportunity to level the playing field for UK consumers. I’m excited to support the next chapter of growth, including an ambitious pipeline of new products, tools, and partnerships that will help even more people to build stronger financial futures.”
Sir Tim Melville-Ross said:
"I was asked to chair Salad because of my experience as CEO at the Nationwide Building Society, a mutual financial organisation with a social purpose. I was particularly impressed by the idea of an organisation that had a strong social purpose in providing affordable loans to people on modest incomes, and the means to do so through Open Banking by lending at rates far below those charged by others. There has been great progress, but we could do even more to address the pernicious effects on society of bad, ugly or no credit for excluded households - and I am thrilled Alex is taking up the role.”
Tim Rooney, CEO of Salad Money, said:
“It’s a bittersweet moment to welcome Alex as we wave Sir Tim off to enjoy a well-earned retirement. Sir Tim has been instrumental in building Salad to the company it is today on a foundation of fairness, innovation, trust and great talent and I want to thank him for his wisdom and insight. Alex is part of the new wave of talent we must attract whose skills will be so vital as we seek to reach our next stage."