Credit, Collections & Insolvency News
The Credit Services Association, the voice of the debt collection and debt purchase sector, has reported the success of its first virtual members’ business update event, one of a series of virtual events which brings together a host of expert speakers who deliver bitesize presentations on specialist subjects and then expand on these at weekly…
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European debt purchase and credit management specialist, Cabot Credit Management has announced a pre-tax profit decrease in its latest financial results falling 64% to £14.8 million when compared to 2019 figures, The company has delivered adjusted EBITDA of £342 million over last twelve months Collections decreased as a result of Covid-19, falling by 16% on…
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Credit Connect Media is set to launch a series of online digital discussion platforms focusing on technological and innovation developments and strategies within credit and collections Starting in August Credit Connect will launch its new 45 minutes news round-up series discussions with monthly guests analysing the industry developments in an ever-changing world. Titled ‘Connected News‘…
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Lowell Financial has appointed two new independent Non-Executive Directors (NEDs). Caroline Marsh and Professor Heather McGregor CBE will join David Gagie as NEDs on the UK Board, together with Group CEO Colin Storrar, UK MD John Pears and UK CFO John Flaherty. Professor Heather McGregor CBE is the Executive Dean of the Edinburgh Business School…
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The Financial Conduct Authority (FCA) says that it is seeking views on extending the implementation deadlines for the Certification Regime and Conduct Rules In a new consultation paper, the FCA says it is making changes to its rules following the extension to the deadline by which FCA solo-regulated firms need to have implemented the Certification…
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The Credit Services Association (CSA), the voice of the UK debt collection and purchase industry, has appointed Chris Leslie as its new Chief Executive with effect from 1st August. A former MP, Minister and Shadow Minister with proven knowledge of public policy, parliamentary affairs, financial services regulation and consumer credit, he succeeds Peter Wallwork, who…
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Outsourcing collections specialist, The Sigma Financial Group has announced plans to double in size over the next five years following a record period of growth in the UK and abroad. The Group, which offers white label customer contact centre services across the utilities, retail, financial services and telecommunications sectors, plans to double its 1,500 workforce…
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Newly launched debt funding specialist. DSW Debt Advisory has appointed a new Managing Director (MD). Simon Carrier, who recently departed his post as Regional Managing Director of Shawbrook Bank, has joined as a Partner to help meet the growing demand. Simon’s 25-year banking career includes spells at RBS, Bank of Ireland and Santander where, as…
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The Financial Conduct Authority (FCA) has directed insurance firms to consider the impact of COVID-19 on the value of their products, saying they should evaluate services and detail any alterations within six months. The new measures set out what the FCA considers firms should be doing to identify any material issues that affect the value…
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Financial advisory company, Begbies Traynor has announced that it has acquired a portfolio of 503 Scottish personal insolvency cases and a team of five fee earners, from Grant Thornton in a deal thought to be worth £500,000. The acquisition will increase the group’s existing operations in Scotland, which provide corporate and personal insolvency together with…
Read moreCredit management specialist, Lowell has announced that it has made two new appointments to its Group Executive team. Thomas Lingen has joined as Group General Counsel and Bitte Ferngren joined as Group Chief People Officer. Lingen joins Lowell from Office Depot Europe in the Netherlands, bringing with him experience of leading legal functions for multinational…
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European debt management services specialist Lowell has announced its results for the quarter ending 31st March 2020. The results show Lowell’s cash income increased seven percent to £952 million, from £892 million when compared with Q1 2019, while cash EBITDA also rose 14 percent to £508 million, from £444 million. Colin Storrar, Group CEO. at…
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Debt purchaser Cabot Credit Management latest business results have shown that the company expects a fall in collection rates as the business adapted to protect employees and serve our customers as COVID-19 crisis unfolded Delivered Adjusted EBITDA was £369 million over the last twelve months. Craig Buick, Chief Executive Officer, Cabot Credit Management, said “For…
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