Credit, Collections & Insolvency News
Provident Group has announced that Chief Executive Officer Peter Crook has resigned. In a statement which issued a profit warning. The doorstep lender says it expects to make losses of £80m to £120m as its debt collection rates have dropped to 57% compared with a previous rate of 90% in 2016. The statement said: The new…
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Principality Building Society has promoted Tom Denman to Chief Financial Officer (CFO). Denman was previously Deputy Finance Director and joined the Principality in 2009. Principality Building Society Chief Executive Steve Hughes says: “Tom will work alongside me to provide strong financial leadership to the board and the wider business. “He has both the technical experience…
Read moreScottish Building Society has appointed Raymond Abbott as its new Chairman, Abbott takes over the role from Rob Golbourn who will remain as non-executive director until he retires from the Board in October. Abbott, who is a chartered accountant, has been vice-chairman and senior independent director at the Society since 2015, and a member of the Board since…
Read moreHome collected credit lender, Morses Club has announced that the Group has secured an extension to its existing loan facility. Shawbrook Bank has increased the overall revolving facility from £25 million to £40 million. The loan facility has also been extended from its existing expiry date of March 2019 to August 2020. This will support the growth strategy…
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Lowell has announced changes to its Group Executive team. Current Group Chief Risk Officer, Sara de Tute, has been appointed to the UK Board as a new Non-Executive Director (NED), she will be succeeded by Laurence Bogni-Bartholmé, who joins the Group from Wells Fargo. After five years with Lowell, current Group CRO, Sara de Tute,…
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High Street lender H&T has announced its latest company results with it’s loans business showing an 88% increase on last year. The results for the last six months (ending 30th) June 2017. John Nichols, Chief xEecutive, said: “We have made a strong start, in this our 120th anniversary year, with a 62% increase in profit before…
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Credit decisioning specialist Zoot, has announced a partnership with credit scorecards specialist Credit Kudos. The combination will enable lenders to easily incorporate account transaction data into their existing risk process, leveraging Credit Kudos’ pre-configured risk models through Zoot’s cloud-based platform integrating data and scoring to create a seamless application process. Adam Jackson, Zoot’s Managing Director…
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Short term lender Oakam, has appointed Julie Haugen to Chief Product & Marketing Officer. Most recently, she was Oakam’s Head of Digital Strategy & Customer Experience, playing an instrumental role in the digital transformation of the business. In her new position, Haugen will drive customer-led digital product innovation through closer alignment of Oakam’s marketing and…
Read moreShelter has been announced as the supplier to deliver a three-year contract for specialist debt advice support services on behalf of the Money Advice Service. The support service will provide organisations across the debt sector with free access to a panel of experts to help guide them through complex debt cases and help them with…
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The Information Commissioner’s Office (ICO) has fined TalkTalk Telecom Group PLC £100,000 after it failed to look after its customers’ data and risked it falling into the hands of scammers and fraudsters. An ICO investigation found TalkTalk breached the Data Protection Act because it allowed staff to have access to large quantities of customers’ data. Its…
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Lowell has announced that it has delivered a quarter of strong growth in the Q2 period, 1 April to 30 June 2017. Lowell says operationally, these results have been underpinned by the continued commitment to people, strong governance, process improvement and extensive data capabilities. Financial Highlights 28% y-o-y increase in Cash Income to £143m 18%…
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Debt Management specialist Bridgewood has appointed Louise Carrington from RSM Tenon to become the firm’s new Insolvency Practitioner. Carrington started her career at P&A before spending nine years at RSM where she was Associate Director. Carrington said: “I was attracted to Bridgewood as they are a growing insolvency firm locally and are well-known for being friendly, approachable…
Read moreTandem has announced that it has agreed on a deal to acquire Harrods Bank, subject to regulatory approval. The deal will bring around £80 million of capital into the business. Once the deal has been completed Tandem can accelerate launch plans and start to offer savings accounts as well as continued development of the app and credit card. The…
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