12 Jul 2017 07:00
12 July 2017
PCF Group plc
("PCF", the "Company" or the "Group")
Directorate Change
PCF, the AIM-quoted specialist bank, announces the appointment of David Titmuss as a non-executive director with immediate effect. Mr Titmuss will also act as Chair of the Remuneration and Nominations Committee.
Mr Titmuss is a sales and marketing executive with a record of achievement in customer acquisition in automotive, banking and financial services organisations. He has held a variety of board level and executive positions in public and private businesses including most recently at webuyanycar.com where he was responsible for customer marketing.
As part of the Group's authorised status as a bank, Mr Titmuss has completed the required Prudential Regulation Authority and Financial Conduct Authority due diligence processes.
Tim Franklin commented: "We are delighted that David Titmuss is joining our board. His extensive sales and marketing experience coupled with his background in financial services make David an excellent addition to our team as we move towards creating PCF Bank."
David Titmuss commented: "I am pleased to be joining PCF at this time as the business is set to attract new customers through a wider range of banking and finance products."
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For further information, please contact:
PCF Group Scott Maybury, Chief Executive Officer Robert Murray, Managing Director David Bull, Finance Director
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| Tel: +44 (0) 20 7222 2426 |
Tavistock Communications Jos Simson / Niall Walsh
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| Tel: +44 (0) 20 7920 3150 |
Panmure Gordon (UK) Limited Atholl Tweedie / Adam James - Corporate Finance Charles Leigh-Pemberton - Corporate Broking
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| Tel: +44 (0) 20 7886 2500 |
Stockdale Securities Robert Finlay / Richard Johnson - Corporate Finance Henry Willcocks - Corporate Broking
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| Tel: +44 (0) 20 7601 6100 |
Appendix: disclosures required pursuant to Rule 17 and Schedule 2(g) of the AIM Rules for Companies
David John Titmuss (aged 54) has, during the past five years been a director of the following companies:
Current Directorships or Partnerships | Previous Directorships or Partnerships |
Via Groupo S.L. | All In One Finance Limited |
Save as set out in this announcement, there are no further details to be disclosed under Rule 17 or Schedule 2(g) of the AIM Rules for Companies in respect of Mr Titmuss.
About PCF Group plc (www.pcf.bank)
Established in 1994, PCF Group plc is the AIM-quoted parent of the specialist bank, PCF Bank Limited. With the advent of the Bank the Group now has the scale to increase its lending portfolio size significantly, with target portfolio sizes of £350m in 2020 and £750m in 2022. The Group will retain its focus on portfolio quality, and will now have the capacity to lend to increasingly prime segments of the finance market.
PCF Bank will offer retail savings products for individuals and will then deploy those funds through its two lending 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 track record of strong financial performance and an efficient and scalable business model, with significant room to grow. Utilising its technologically advanced platform, PCF will provide both depositors and borrowers with a high level of service and a straightforward, simple range of products tailored to suit their needs.