Risk management platform provider Equiniti Riskfactor has appointed Michael Stock as head of operations.

Stock will join from the commercial finance business of Dutch bank ABN AMRO, where he has spent the last 13 years working at a senior level.

He brings a wealth of industry experience and first-hand knowledge of using Equiniti’s main flagship software, EQ Riskfactor, which the business said has a 90% market share of the receivables finance market in the UK.

In his role as head of operations, Stock will develop the core infrastructure of the business, aiming to drive process efficiencies and drive growth.

Equiniti Riskfactor said it had gained seven new clients in North America, in the previous 12 months, while it has also strengthened existing relationships and established a US-based team.

Over the next year, Equiniti Riskfactor said it would look to add to its software development team and its implementation team.

Aaron Hughes, managing director at Equiniti Riskfactor, said: “I am delighted to welcome Michael to the team. His industry insight and experience will be invaluable in ensuring we are organised efficiently and enable us to better understand clients’ challenges and ensure our product development meets their needs.”

Michael Stock, head of operations at Equiniti Riskfactor, said: “I am thrilled to be joining at this exciting time of rapid growth and I look forward to challenging the business to ensure we are market-ready for our international expansion and that our existing clients remain central to our future business success.”

“EQ Riskfactor is a very sophisticated and established system which is mission-critical for our loyal client base. We already have 90% of the UK commercial finance lenders and are now expanding our international market. At ABN AMRO I was instrumental in embedding EQ Riskfactor into our business strategy, and I hope to build on this experience to take the company forward with its ambitious growth plans.”