Credit, Collections & Insolvency News
Phillips & Cohen Associates, (Australia), the Australian arm of the globe’s leading deceased account management specialist, celebrates its fifth anniversary this month. The business, led by Managing Director, Don Coulthard, has enjoyed vibrant growth in the Australian market. Clients have been quick to benefit from the positive consumer impact of Phillips & Cohen Associates’ compassionate…
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Debt purchaser, Arrow Global has announced that it has agreed terms for two acquisitions which strengthen the Group’s investment and asset management capabilities and reinforce its growing presence in Italy. The first acquisition is for Europa Investimenti S.p.A., a leading originator and manager of Italian distressed debt investments, for an equity value of €62 million.…
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European debt purchaser Intrum has announced that Thomas Moss has been appointed acting Chief Financial Officer (CFO). Current CFO Erik Forsberg will leave the company next week Moss is currently the Director of Group Business Control at Intrum, a role that he has held for the past 4 years. Before he joined Intrum he held the…
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European collections specialist, Intrum is organizing a hackathon in partnership with Tieto which will seek to examine how innovation can help to improve individual consumer’s financial well-being. Over the course of the two-day hackathon event in Helsinki, Finland on April 11-12 this year, participants from education institutions, startups, SMEs and other organisations will create new…
Read moreDebt Purchaser, Arrow Global Group has announced the appointment of Dave Sutherland as Group Chief Operating Officer (COO). Sutherland is a highly experienced executive with a successful track record of managing operations within large, international financial services organisations. He joins Arrow Global at an exciting phase of the Group’s development and will sit on the…
Read moreItaly’s Intesa Sanpaolo is considering selling its debt collection business and a bad loan portfolio to Sweden’s Intrum Justitia the two companies have said in separate statements. The move would mark a change of strategy for the Italian lender which set up the bad loan unit, called Capital Light Bank, back in 2014 and has…
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The increasing cost of living and the impact of Brexit top the Nation’s main financial concerns for 2018, according to new research from GoCompare. The research found that 40% of people think that 2018 will be a financially challenging year, with 12% admitting to being ‘seriously worried about their finances’ in the year ahead. The…
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Romania’s Alpha has agreed to sell debt portfolio valued at €360m. The bank said that portfolio will be acquired by entities financed by a consortium of international investors including Deutsche Bank, funds advised by AnaCap Financial Partners and funds advised by APS Investments. The completion of the transaction is subject to the relevant regulatory approvals.…
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Ferratum has announced that it will be partnering with Thomas Cook Money to introduce its first Banking-as-a-Service (“BaaS”) venture. Ferratum will provide Thomas Cook Money with a fully functional and regulated mobile consumer finance offering powered by Ferratum’s highly successful and innovative mobile banking platform. Customers will experience the world’s first mobile banking app designed…
Read moreOnline research from Equifax has revealed that 39% of Brits expect Brexit to negatively affect how they access and manage their finances. The survey, conducted by YouGov, also highlighted the younger generations’ pessimism about Brexit with over half (56%) of 18-24 year olds believing exiting the EU will make it more difficult to access and…
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Intrum has entered into an agreement to acquire CAF S.p.A (CAF), the third largest servicer of non-performing loans in Italy In addition, Intrum has acquired a large, diversified debt portfolio serviced by CAF. The seller of CAF and of the debt portfolio serviced by CAF are affiliates of Lone Star Funds, a global private equity…
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A new European Consumer Payment Report, from debt collection specialist Intrum, has shown that parents are vulnerable to social pressure, forcing them to spend more money on their children than they can afford. Every third parent in Europe has experienced social pressure during the past year to buy something for their children that they feel…
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The effects of a ‘hard’ Brexit will be decisive for the innovation capacity and competitiveness of the British automotive industry according to new research by Coface. After an exceptional peak in production of vehicles recorded in mid-2016 (1.02 million unit sales, up 8.5% for the January-August period compared to the same period in 2015), 2017…
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