Mortgage ‘robo-adviser’ MortgageGym.com has announced that Henry Ritchotte, former chief operating officer of Deutsche Bank AG, has joined with immediate effect as investor and adviser to the company.
He has made a personal investment of £500,000 in MortgageGym. He has over 24 years’ experience in the investment banking and financial services industries. Since leaving Deutsche Bank earlier this year, Ritchotte has been making early stage investments in financial services firms with a focus on disruptive regulatory- and technology-driven business models.
He previously held the role of head of digital bank at Deutsche Bank and was previously chief digital officer on projects to digitalise banking services.
Ritchotte’s other roles at Deutsche Bank included chief operating officer, head of global markets and serving as a member of the management board and group executive committee.
John Ingram, founder and CEO of MortgageGym, said: “We are delighted to have someone of Henry’s experience on board in an advisory capacity. He brings a wealth of digital expertise and experience from his work at Deutsche Bank.
“He is hugely respected and will be a valuable addition to the company. MortgageGym is intent on revolutionising the mortgage market through a completely digital, whole-of-market, free and accurate application process, which is a first of its kind. Henry’s investment into the business confirms his confidence in MortgageGym’s ability to achieve this goal.”
Ritchotte added: “I am very excited to be joining MortgageGym ahead of its official launch this summer when it will, no doubt, revolutionise the mortgage market with the introduction of the first, digital mortgage marketplace for UK consumers.
“I am keen to support ambitious young firms focussed on transforming the delivery of financial products in a disruptive regulatory and technology environment. MortgageGym has been carefully designed in consultation with regulators, consumers, lenders and intermediaries to ensure that it provides mortgage applicants with peace of mind by advising them on mortgages that they can realistically afford. Not only will it make the application process easier for users, but it will also help those who couldn’t get a deal previously to secure a mortgage perfectly suited to their income level.”