Directorate Change

RNS Number : 1095W

Provident Financial PLC

09 December 2019

 

Provident Financial plc announces the appointment of Neeraj Kapur as Chief Finance Officer

Provident Financial is pleased to announce the appointment of Neeraj Kapur as Chief Finance Officer, Provident Financial plc. Neeraj will join the Board and start as Chief Finance Officer on 1 April 2020. Simon Thomas, Chief Finance Officer, Provident Financial, as previously announced on the 30^th July 2019 (RNS Number:1086H) informed the Board he was stepping down from the role for personal health reasons following the 2019 preliminary results announcement in 2020.

Neeraj Kapur is Group Chief Financial Officer of Secure Trust Bank plc, a UK retail and SME bank. He has a strong retail banking background, including consumer finance and savings products expertise. His appointment follows a thorough process conducted by the Nomination Committee with the assistance of a leading executive search firm.

Malcolm Le May, Chief Executive Officer, Provident Financial said:

"I am very much looking forward to Neeraj Kapur joining Provident Financial as Chief Finance Officer. He has deep retail banking, consumer finance and savings experience and expertise, and will be an excellent addition to the senior leadership team as we continue to re-establish Provident Financial as the market leading sub-prime lender. Simon has been a great Chief Finance Officer, and on behalf of the Board I would like to thank him for everything he has achieved and wish him all the best for the future."

Neeraj Kapur said:

"I am delighted to be joining Provident Financial as its new Chief Finance Officer. I look forward to working with Malcolm and the Board as we enact Provident Financial's social purpose of lending responsibly to the underserved, execute its strategy and deliver sustainable returns to its shareholders."

The following information is disclosed in accordance with LR 9.6.13:

In accordance with the Listing Rules, there are no additional matters that would require disclosure under 9.6.13R of the Listing Rules of the UK Financial Conduct Authority.

Enquiries:
Media
Richard King, Provident Financial	0203 620 3073
Nick Cosgrove/Simone Selzer, Brunswick	020 7404 5959
Investor Relations
Simon Thomas, Provident Financial	0203 620 3687
[e-mail]

Notes to Editors

1 .    Provident Financial plc is a leading provider of credit products which provide financial inclusion for those consumers who are not well served by mainstream lenders. The Group serves 2.4 million customers and its operations consist of Vanquis Bank, Moneybarn, and the Consumer Credit Division (CCD) comprising Provident home credit and Satsuma.

2.     Neeraj Kapur was appointed Group Chief Financial Officer of Secure Trust Bank in 2011. Neeraj has over 25 years' financial services experience spent in both the accounting and banking industries. He holds a degree in Aeronautical Engineering from Imperial College, London, is a fellow of the Chartered Institute of Bankers in Scotland, a fellow of the Institute of Directors, a fellow and a past member of the Council of the Institute of Chartered Accountants in England & Wales ('ICAEW'), and a previous Chair of the ICAEW Financial Services Faculty. Neeraj qualified as a Chartered Accountant in 1993 at Arthur Andersen and spent 11 years working in professional practice. He joined Royal Bank of Scotland ('RBS') in 2001 where he performed a number of roles which included Chief Financial Officer of Lombard North Central PLC. His background has given Neeraj experience in accounting, finance, professional services, governance, operations, marketing and risk.

3.     Simon Thomas joined the Board Provident Financial plc on 3^rd December 2018 as Chief Finance Director. He was previously Group Chief Financial Officer of Just Group plc.  Simon has over 30 years' experience in the UK life assurance industry and financial services, and is a Chartered Accountant.

 

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