The former head of a UK Treasury unit that oversaw a crisis-era scheme to insure risky billions of pounds of assets on banks' balance sheets – who went on to chair one of the country's new challenger banks – has taken an advisory role at a peer-to-peer online property lender.

Stephan Wilcke, who is also a former head of European financial services at the private equity firm Apax Partners, has been named a senior adviser to LendInvest and becomes the first member of the online lender's new advisory board, the company said in a June 17 statement.