Directorate Change

RNS Number : 6730V

International Personal Finance Plc

17 January 2012

 



17 January 2012

International Personal Finance plc ("the Company")

Board Changes

International Personal Finance plc ("the Company") has today, with immediate effect, appointed Gerard Ryan to its Board as Chief Executive Officer (Designate). He will also be a member of the Executive Committee.   Following completion of a planned hand-over period, Gerard will become Chief Executive Officer at the beginning of April when John Harnett, the current CEO, leaves the Company to pursue personal interests.

Gerard Ryan, aged 47, has over 20 years experience in the financial services sector and latterly spent four years with Citigroup where he was Chief Executive Officer for Citi's consumer finance businesses in the Western Europe, Middle East and Africa region. He was a director of Citi International plc, Egg plc and Morgan Stanley Smith Barney UK.

Earlier in his career Gerard was Chief Financial Officer of Garanti Bank, Turkey and Chief Executive Officer of GE Money Bank, Prague.  He is a Fellow of the Institute of Chartered Accountants in Ireland.

Commenting on the news, Christopher Rodrigues, Chairman of the Company, said "We are delighted to welcome Gerard to the Board. His multi-country experience in consumer financial services makes him ideally suited to become John Harnett's successor and will provide the Company with excellent continuity of leadership. This appointment is the culmination of a thorough search and selection process. I am delighted with the outcome and I am sure that IPF will prosper under Gerard's leadership. 

We are most grateful to John for his work establishing IPF as an independent listed public company and significantly increasing the Group's profits through the turbulent years of the financial crisis. This contribution is further evidenced by our 2011 performance following the key December trading period in which sales were up by 6.5% and collections were strong. "

John Harnett commented: "I am proud to have worked alongside and led a great team at IPF through the exciting period of demerger and transition to a public listed company. And we can all be proud of the success we have achieved together over the past six years."

As previously announced, the preliminary announcement of the Company's full year results for 2011 will be published on Wednesday 29 February 2012.

Note

There is no other information required to be disclosed pursuant to Listing Rule 9.6.13.

For further information contact:

Finsbury:
James Leviton	+ 44 (0) 207 251 3801
International Personal Finance plc:
Rachel Moran (Investor Relations)	+ 44 (0) 113 285 6798
John Mitra (Media)	[phone]

 

END

 

 

BOAGLGDBUXBBGDR