Credit, collections & insolvency news
Provident Financial has announced the appointment of Neil Chandler as Managing Director of Vanquis Bank. Chandler will join the Vanquis Bank board and will start as Managing Director on the 15th April 2019, subject to regulatory approvals.
Chandler was until recently the Chief Executive Officer, Shop Direct Financial Services and a member of the Shop Direct Group Executive. Previously he was Chief Executive Officer, Sainsbury’s Bank, and became Head of Personal Loans at HBOS, after joining as Chief Operating Officer for Cards. He has a strong financial services background, including, consumer finance, retail banking, loans and cards, combined with proven leadership and digital skill set.
Malcolm Le May, Chief Executive Officer, Provident Financial plc said “I am delighted Neil Chandler is joining us to lead the next phase of Vanquis Bank’s growth as it attracts new card customers and works closer with MoneyBarn to give its 1.8 million customers access to car finance. Neil has the ideal skill set to build on Vanquis Bank’s successful track record, strong retail banking, cards and consumer finance experience, combined with a collegiate, practical and customer-focused approach to building long-term sustainable businesses.”
Neil Chandler said “I am very excited to be joining Vanquis Bank as its new Managing Director. Provident Financial and Vanquis Bank within it plays an important role in society by providing access to good quality financial services and products to a 10 to 12 million marketplace. I look forward to working with Malcolm and with the Bank’s senior management team and Board as we execute on our part of the Provident Group’s strategy and deliver for our customers and the Provident Group’s shareholders.”
In addition, the Provident board has announced the appointment of Robert East as Non-Executive Director of Provident and Chair of Vanquis Bank and the appointment of Graham Lindsay who will replace John Straw (with effect from 21st May 2019) and whose appointment as Non-Executive Director will be effective from 1st April 2019.
East is chairman of Skipton Building Society, a Non-Executive Director at Hampshire Trust Bank, where he chairs the Risk Committee, and a director of Welcome Financial Services Limited. Robert brings a wealth of experience to the Board and to the Bank as an experienced former CEO, Non-Executive Director and Chairman, following his executive career in Barclays, where he held Senior Risk and Business Leadership roles, and Cattles, where he led its restructuring from 2009 and was its Chief Executive from 2011 until completion of its wind down in 2016.
Lindsay s currently a Non-Executive Director on the board of OneFamily, a financial services mutual where he chairs the Remuneration Committee and the Customer, Member and Product Committees. He is also a Vice Chair and Trustee of the Brain Tumour Charity. Graham joined the Wonga UK Boards in 2016 as part of the new leadership team engaged to improve the business and deliver change. Graham brings extensive experience in commercial and retail banking following a 40 year career at Lloyds Bank.
Patrick Snowball, chairman of Provident Financial plc said: “The appointment of Robert and Graham will bring further consumer finance, retail banking and regulatory experience and expertise to the Board. They each have a deep understanding of the importance of ensuring that our particular market is served correctly and in the right way in the current regulatory environment. Both appointments will bolster the capabilities of the Board, and, on behalf of the Board, I welcome them and look forward to working with them on the future of the group as we deliver for all our stakeholders.”
Both appointments are subject to regulatory approval.
