16 Jul 2015 07:00
16 July 2015
Private & Commercial Finance Group plc
("PCFG", the "Company" or the "Group")
Directorate Change
PCFG, the AIM quoted finance house, announces the appointment of David Bull as the Company's new Finance Director with effect from Monday 3 August 2015.
From January 2014 until July 2015, Mr Bull was Director of Finance and Company Secretary at Hampshire Trust Bank plc, a UK 'challenger' bank which specialises in asset, commercial and property finance, as well as providing savings and deposit accounts to individuals and businesses. Previously, he was Interim Chief Financial Accountant at the Bank of England between 2011 and 2013 and, before that, his experience covered a range of finance and other roles at organisations that included Deutsche Bank, Heritable Bank and KPMG. He qualified as a Chartered Accountant in 1996.
In addition to his directly relevant experience of SME focused lending operations, Mr Bull has also been successfully through the banking licence application process which will be of significant benefit to PCFG.
As announced on 9 June 2015, Zane Kerse had advised the Board of his wishes to pursue other interests and he will resign as a director with effect from 31 July 2015, but will be staying on with PCFG until the end of August to support Mr Bull in his initial weeks.
Scott Maybury, CEO, commented: "I am delighted to welcome David to the Group. His experience in recent years at Hampshire Trust Bank and, before that, at the Bank of England will be of significant value to us as we continue to grow and as we progress our banking licence application. The Board looks forward to working with him."
"I would also again like to place on record our gratitude to Zane for his diligence and financial stewardship through a critical period for the Group which he joined in 2001 as Financial Controller, before becoming Finance Director in 2008. He leaves with our very best wishes."
Additional information:
Mr David Richard Bull, aged 44, is or has been in the past five years a director of the following companies:
Current directorships |
DR Bull Associates Limited |
Previous directorships (held in the past five years) |
None |
Mr Bull currently holds no shares in the Company.
There is no further information to be disclosed under Schedule 2(g) and Rule 17 of the AIM Rules in respect of Mr Bull's appointment as Finance Director.
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For further information please contact:
Private & Commercial Finance Group Scott Maybury, Chief Executive Robert Murray, Managing Director
| Tel: +44 (0) 20 7222 2426 |
Tavistock Communications Chris Munden / Niall Walsh / Lucia Caprani
| Tel: +44 (0) 20 7920 3150 |
Panmure Gordon (UK) Limited Fred Walsh / Peter Steel / Atholl Tweedie
| Tel: +44 (0) 20 7886 2500 |
Westhouse Securities Limited Henry Willcocks
| Tel: +44 (0) 20 7601 6100 |
About Private & Commercial Finance Group plc (www.pcfg.co.uk)
Established in 1994, Private & Commercial Finance Group plc is an AIM-quoted finance house which has two main operating divisions:
• Consumer Finance which provides finance for motor vehicles to consumers; and
• Business Finance which provides finance for vehicles, plant and equipment to SMEs.
The Group has a highly efficient and scalable business model, utilising its specially developed internet-based proposal system to service national networks of brokers and suppliers.