Consort1 is pleased to announce the appointment of Paul Duffy as Senior Advisor, Business Development. This further builds out the senior Business Development team following the appointment of Chris Ruse and Michael Starmer-Smith earlier this year. Paul will support Consort1 as we continue to expand awareness and adoption of our Secured Deposit Service across sophisticated depositors, institutional clients, corporates, treasury teams, asset managers and other relevant market participants. Consort1 was created to address a simple but important problem: large cash balances are often placed with limited counterparty choice, limited diversification and unsecured bank exposure. Our Secured Deposit Service is designed to offer depositors access to more counterparties, potentially better rates, and a materially different security position through ring-fenced collateral. Paul has over 30 year's experience covering the NBFI market (including asset managers and insurance companies) and brings senior commercial expertise, strong market relationships and a practical understanding of how financial institutions evaluate risk, liquidity, security and return. His support will be valuable as Consort1 continues to build its presence in the market.

Paul quotes: “ I am very excited to be joining the Consort1 team. Their unique Secured Deposit Service is ideal for the NBFI community who are typically cash-rich, extremely focused on counterparty risk and return considerations, ease of execution and are comfortable dealing with collateral-based solutions”.