Thursday 04 April 2024 5:30 am | Updated: Wednesday 03 April 2024 11:05 am

Square Mile and Me: Perenna CEO Arjan Verbeek on disrupting the mortgage market

Each week we ask a City figure to take a trip down memory lane. Today, Arjan Verbeek, founder and CEO of Perenna, takes us through his career, from The Hague to the City

What was your first job?

I studied in Tilburg, Netherlands, and alongside my study I worked in a bar 3-4 nights a week, which I really enjoyed.

What was your first role in finance?

I joined the graduate trainee program of the Royal Bank of Canada, which really gave me a good overview of the banking industry. It included sitting the Association of Corporate Treasury exams, which provided a good introduction to tax, accounting, finance, etc.

When did you know you wanted to build a career in the City?

I wrote my thesis while working for AEGON in The Hague, developing a retail investment product. I finished with a three-month stint being an option broker on the Options Exchange in Amsterdam, spending a lot of time on the phone with London. This is where I knew I liked finance and London was the centre at the time.

What’s one thing you love about the City of London?

London is cosmopolitan and has an energy. The City itself in addition has tradition and a vibe you do not easily find elsewhere.

And one thing you would change?

More but better cycle lanes! I appreciate London does not have much space, but cars and cycles need to have space to smoothly coexist.

What’s been a memorable moment at work?

My most memorable moment was the first day at Moody’s. It was the beginning of the era of securitisation in Europe, and on my first day I was given a pack of documents covering five deals and I had to get on with it. Ask questions when you need to. Very steep learning curve, but great fun at the same time.

And any City faux pas?

One of my first days in the City, at Royal Bank of Canada, I joined my colleagues for a lunch birthday drink. The choice was between Pimms or beer, and I thought I would be sensible and not have alcohol…. Never had Pimms before! It wasn’t a good afternoon.

What’s been your proudest moment?

Nothing can beat the birth of my kids! However, from a work point of view, it was Perenna going live. I truly believe that Perenna will turn the fortunes of many people, offering access to home ownership and helping solve the real problem to the challenges we face. Building more homes will only come when people can afford them. We need to reform the mortgage market.

And who do you look up to?

Nelson Mandela, no question. Lack of selfishness is what everybody should learn from, see the bigger picture and do not put yourself first.

Are you optimistic for the year ahead?

It is not going to be a good year generally, and I feel the years ahead are not going to be as good as we would want them to be. But you have to be optimistic, work towards a better future together. I wish there was less bickering and more people doing what was right, not what was right for them. We have an enormous number of challenges that need to be addressed, head on, and not dismissed or left for the future generations.

We’re going for lunch, and you’re picking – where are we going?

Signor Sassi. An Italian restaurant that has been there since I came to the UK, great food and atmosphere.

And if we’re grabbing a drink after work?

The Bear in Paddington. Opened only on Dec 1 last year, but we have used it a lot and really like the vibe.

Where’s home during the week?

Chiswick, if I am not at work. I like going into the office five days a week.

And where might we find you at the weekend?

If I am not a home, because I like being at home given the time spent away during the week, I might be watching football. At Stamford bridge if we play home, or in the pub if we play away.

You’ve got a well-deserved two weeks off. Where are you going?

St Anton, Austria. Mountain air, good food, skiing and most importantly, the Mooserwirt. Absolutely love the ski there, a happy carnival atmosphere every day.