By Modupe Gbadeyanka
Flutterwave has announced the appointment of Mr Marshall Lux, a former Chief Risk Officer at JP Morgan Chase, as Senior Advisor.
He is coming into the financial technology (fintech) giant with 30 years of experience from BCG, JP Morgan Chase and Mckinsey.
In a statement, Flutterwave, valued at over $3 billion after a Series D funding in February 2022, said its new Senior Advisor would be instrumental in helping it meet global risk management and compliance standards for merchants and partners as the business scales.
Mr Lux has extensive experience in model building, stress testing, portfolio management and optimization, line setting and increases, fraud, regulation, cyber, operations risk, and the like.
He would be expected to advise across Flutterwave’s businesses, with an emphasis on global risk management, compliance and security-related areas.
Mr Lux sits on several private equity boards and advises companies ranging from consumer credit, wealth, insurance, and cybersecurity. He graduated Summa Cum Laude from Princeton University and received an MBA from Harvard Business School, where he was a Baker and Ford Scholar.
“I am thrilled to be advising Flutterwave. They are clearly a winner and an important company in the African payments ecosystem. I look forward to working with the ever-growing team, which is attracting world-class talent,” the appointee said in a statement from the company.
“We are fortunate to have the opportunity to draw upon Marshall’s decades of world-class experience from companies such as JP Morgan Chase, BCG and McKinsey.
“Robust risk management and compliance requirements have always been (and continue to be) our highest priority as we scale the business,” the CEO and founder of Flutterwave, Mr Olugbenga Agboola, said.
At McKinsey, Mr Lux served financial service clients across various subsectors and led the firm’s risk, technology and private equity practices. He also helped build McKinsey’s Risk Management Practice.
He later moved to JP Morgan as Chief Risk Officer for all consumer products globally at the company, including mortgages, credit cards, student loans, auto loans and small business loans.
Most recently, Mr Lux was a Senior Partner at the Boston Consulting Group (BCG), where he is currently an active Senior Advisor. He has worked on risk improvement programs for leading banks in the US and globally. He often sits or chairs the Risk Committees of Boards he sits on.
