Credit, Collections & Insolvency News
Lindorff has agreed to enter into separate strategic co-investment partnerships with CarVal Investors and AlbaCore Capital. CarVal Investors and AlbaCore Capital intend to deploy up to €350m in aggregate as part of the co-investment partnerships, to be invested in unsecured non-performing loans in Europe. CarVal Investors is a leading global alternative investment fund manager focused on opportunistic…
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Yorkshire Building Society has announced the appointment of Mike Regnier as Chief Executive. Regnier, who joined the Society in 2014, is currently Chief Customer Officer and Executive Director. He is expected to take up the role at the UK’s second largest building society on 1 January, 2017, subject to regulatory approval. John Heaps, Yorkshire Building Society…
Read moreThe energy industry has launched a new set of principles to help protect prepayment customers. Citizens Advice worked with Energy UK to make sure the new standards support the most vulnerable prepayment meter customers at risk of self-disconnecting because they are unable to top up their meter.The principles include commitments by energy suppliers to: consider the…
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Lindorff has announced that Anne Louise Eberhard has been appointed Executive Vice President Debt Collection Sales. Eberhard has held senior positions at Danske Bank latest as Senior Executive VP and Global Head of Corporate & Institutional Banking. Lindorff CEO Klaus-Anders Nysteen said “With the appointment of Anne Louise Eberhard we strengthen our Executive Team at…
Read moreMoore Stephens says that women accounted for 65% of personal insolvencies amongst the under 25s in the last year. Women also accounted for 53% of all personal insolvencies amongst 25 to 34 year olds. Moore Stephens says that the gender pay gap may be partially to blame. Women earn, on average, 18% less than their male…
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Hoist Finance has acquired an SME portfolio from Banco Popolare, Italy. The portfolio consists of approximately 9000 claims with a nominal value of approximately €600 million. The 10-year Estimated Remaining Collections is €53 million. Charly De Munter, Regional Director Mid Europe, Hoist Finance, describes the acquisition as an additional milestone in Hoist Finance strategic expansion in…
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Confidence in the UK’s economy has fallen again, being driven primarily by a steady decline in manufacturing, according to preliminary results from the Chartered Institute of Credit Management’s (CICM) latest quarterly barometer. Early indications from Q3 of the Credit Managers’ Index (CMI) show a third consecutive quarterly fall in the index’s headline figure, representing a worrying trend. The…
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GBG have announced the appointment of Chris Clark as its new Chief Executive Officer, replacing Richard Law who is retiring from the Board after 14 years as CEO. It is anticipated that Chris will join GBG on 1 April 2017. Chris Clark is a highly experienced, successful and well-regarded business leader who, since early 2012, has gained…
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According to the Centre for Retail Research, over 9 million people will pay for Christmas on a credit card. 70% of people admit they haven’t started saving for Christmas, meaning millions of others will have to play catch up with their finances in the short run up to Christmas. The research also found that the average household…
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Here is an overview of The Money Charity’s latest statistics for October 2016: Personal debt in the UK People in the UK owed £1.499 trillion at the end of August 2016. This is up from £1.445 trillion at the end of August 2015 – an extra £995.43 per UK adult. The average total debt per household…
Read moreLendinvest has appointed Willem Wellinghoff as VP of Compliance. Wellinghoff is responsible for leading the compliance function, setting and maintaining LendInvest’s compliance and risk management strategy. He also serves as a member of the LendInvest’s Governance Committee for Compliance and Risk. Wellinghoff boasts extensive compliance experience having spent a decade at Cabot Credit Management, a leading credit services…
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The Financial Conduct Authority (FCA) has banned Andrew Barry Hart, the sole director, controller and ultimate owner of Wage Payment and Payday Loans Limited (WPPL), from performing any role in regulated financial services. The FCA has also cancelled WPPL’s interim permission and refused its applications for WPPL to be authorised to carry out regulated activities…
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The latest Financial Fraud Action (FFA) UK report, published today, reveals a 25% year-on-year increase in financial fraud losses for the first half of 2016 to £399.5 million. John Marsden, Head of ID and Fraud at Equifax said “Cyber and ID fraud dominate the fraud landscape, and online scams and attacks continue to rise. E-commerce…
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