Credit, Collections & Insolvency News
Arrow Global has announced that it is poised to acquire Norfin Investimentos S.A (“Norfin”), a manager of real estate investments in Portugal. The acquisition further strengthens Arrow Global’s asset management and investment capabilities, is highly complementary to Arrow’s existing Whitestar platform, and will allow the Group to offer a comprehensive set of servicing solutions to…
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The Financial Conduct Authority (FCA) has announced that it has banned four directors of an online brokerage who mislead customers. David James Carter Mullins, Edward John Booth, Christopher Paul Brotherton and Mark Robert Kennedy, the former directors and shareholders of Secure My Money Limited (now dissolved) have all been banned. The firm took fees of…
Read moreShawbrook Bank has announced that it has appointed David Robinson as Sales and Distribution Director of its residential mortgage arm. Robinson will start the role in August, leaving Accord, where he has worked for 14 years. He has worked with the Yorkshire Building Society group for 29 years previously. Robinson will replace Paula Purdy would leave…
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The Money Charity’s Money Workshops have a significant positive effect on the financial capability of young people, in terms of confidence and perception of knowledge, even when the majority of students experience only one one-hour workshop. This is one of the findings of a new school-level randomised controlled trial (RCT) exploring the impact of The…
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Encore Capital Group has announced that it has completed its acquisition of the remaining interest in Cabot Credit Management (Cabot) meaning that Cabot is now a wholly owned subsidiary of Encore. The transaction is expected to be accretive to Encore earnings in 2018 and beyond, and Encore’s earnings per share growth are expected to accelerate to…
Read moreRecovery firm Andrew Wilson & Co has announced that it will increase the High Court Enforcement Officers (HCEO) team from two to five. Kelly Cookson, 34, Eric Roe, 25 and Joe Hanlon are on course to become three of the youngest High Court Enforcement Officers (HCEO) in the country. High Court Enforcement Officers are authorised by…
Read moreAccountant in Bankruptcy (AiB) released its latest official statistics reporting personal insolvencies in Scotland for the first quarter (Q1) of 2018-19 and final statistics for the 2017-18 financial year. The results show that there were 3,208 personal insolvencies (bankruptcies and protected trust deeds (PTDs)) in Scotland in 2018-19 Q1, compared with 2,869 in 2017-18 Q1,…
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Here is an overview of The Money Charity’s latest statistics for July 2018: Personal debt in the UK People in the UK owed £1.5877 trillion at the end of May 2018. This is up from £1.54 trillion at the end of May 2017– an extra £920.71 per UK adult. Per adult in the UK that’s an average debt of £30,670 in…
Read moreUK Finance has published its latest consumer lending figures for June. Key data highlights include: Estimated gross mortgage lending for the total market in June is £23.5bn, 2.1 per cent higher than a year earlier. The number of mortgage approvals by the main high street banks in June fell by 2.1 per cent compared to…
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The Payments Systems Regulator (PSR) has set out its plans to carry out a market review into card-acquiring services and has published draft terms of reference for consultation. PSR says card payments are critical to the smooth running of the UK economy. They are a popular way for consumers to pay merchants for goods and services, and…
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Women in finance and accounting take seven more years, on average than their male counterparts to reach executive level, as they battle with a ‘two-tournament gender system’ throughout their careers according to new research. The slow path to the top: the careers of women in finance and accounting report commissioned by ACCA (the Association of Chartered…
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The Central Bank of Ireland has published the Behaviour and Culture Report into the five main Irish retail banks – AIB Group, Bank of Ireland Group, permanent tsb, Ulster Bank Ireland and KBC Bank Ireland. The report, involving reviews conducted by the Central Bank in collaboration with the Dutch Central Bank (De Nederlandsche Bank –…
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Financial fears are creeping into sleeping hours, according to new research by Royal London which shows money worries are a top cause of nightmares. Two in five (41%) people said money makes them anxious, which can have a big impact on the subconscious. One of the most common types of dreams is teeth falling out…
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