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PCF Group PLC (PCF)

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Friday 19 March, 2021

PCF Group PLC

Appointment of new Chief Financial Officer

RNS Number : 7899S
PCF Group PLC
19 March 2021
 

19 March 2021

PCF Group plc

("PCF", the "Bank" or the "Group")

 

Appointment of new Chief Financial Officer

 

PCF Group plc is pleased to announce that Caroline Richardson will be appointed as a member of the Board and as Group Chief Financial Officer, subject to regulatory approval being received. Caroline replaces Nick Price, who has been interim CFO since September. Subject to regulatory approval, Caroline will also become a director of the Group's subsidiaries: PCF Bank Limited, PCF Credit Limited and Azule Limited.

Caroline has significant experience as a finance director, most recently as Chief Financial Officer and Board Member at White Oak UK, where she was responsible for the Finance and Treasury teams and helped develop their response to the pandemic. Additionally, Caroline has a strong knowledge and understanding of PCF's reporting requirements both as a listed entity and bank, having previously served as Group Finance and Transformation Director at Arrow Global PLC and led the Co-operative Bank plc's financial reporting for two years as Chief Accounting Officer. Whilst at the Co-operative Bank, she was one of their key contacts with the Prudential Regulatory Authority.

In total, Caroline has more than 25 years' experience in finance and banking, including nearly twelve years at Deutsche Bank, latterly as UK Finance Director, highlighting her experience working within the UK regulatory environment.

Caroline qualified as an accountant at PricewaterhouseCoopers and has a First Class Honours Degree in Economics from the University of Hull.

Scott Maybury, CEO of PCF Bank, said: "I would like to welcome Caroline Richardson to PCF Group and wish her every success in her new role. Her experience will be invaluable as we emerge from the pandemic and return to our strategy of strong portfolio growth. I would also like to thank Nick Price for his contribution to PCF as interim CFO over the last six months."

Additional Information

During the last five years immediately preceding the date of this announcement, Caroline Jane Richardson (nee Fishwick), who is 46 years old, held the following directorships:

Past

 

LDF Group Holdco Limited

 

LDF Group Finance Limited

 

LDF Operations Limited

 

LDF Finance No.1 Limited

 

LDF Finance No.2 Limited

 

LDF Finance No.3 Limited

 

White Oak UK No.4 Limited

 

White Oak UK No.5 Limited

 

White Oak UK (CBILS) Limited

 

White Oak UK (CBILS) (Non-Levered) Limited

 

LDF Ops Limited

 

DB Delaware Holdings (Europe) Llc

 

DB Overseas Holdings Limited

 

Deutsche Holdings No.3 Limited

 

Deutsche Holdings No.2 Limited

 

DB UK Holdings Limited

 

DB International Investments Limited

 

Deutsche Holdings (BTI) Limited

 

Deutsche Holdings Limited

 

DB Equity Limited

 

Bankers Trust Investments Limited

 

Deutsche Finance No.2 Limited

 

B.T.I. Investments

 

Sagamore Limited

 

Britannia New Homes (Scotland) Limited

 

Platform Home Loans Limited

 

Mortgage Agency Services Number Two Limited

 

Mortgage Agency Services Number Five Limited

 

Platform Funding Limited

 

Mortgage Agency Services Number Four Limited

 

Mortgage Agency Services Number Six Limited

 

Mortgage Agency Services Number One Limited

 

Co-Operative Bank Financial Advisers Limited

 

Britannia Treasury Services Limited

 

BOS Personal Lending Limited

 

First Roodhill Leasing Limited

 

 

There is no further information to be disclosed pursuant to Schedule Two Part (g) of the AIM Rules for Companies.

end

 

For further information, please visit https://pcf.bank/ or contact:

 

PCF Group

Scott Maybury, Chief Executive Officer

Robert Murray, Managing Director

 

 

Tel: +44 (0) 20 7222 2426

Tavistock Communications

Simon Hudson / Edward Lee / Tim Pearson

 

 

Tel: +44 (0) 20 7920 3150

Peel Hunt (Nominated Advisor and Broker)

Andrew Buchanan / James Britton / Rishi Shah /

Duncan Littlejohns

 

Tel: +44 (0) 20 7418 8900

Shore Capital (Joint Broker)

Henry Willcocks - Corporate Broking

 

Tel: +44 (0) 20 7408 4080

 

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. Since commencing operations as a bank in 2017, the Group has increased its lending portfolio from £140 million to over £430 million. The Group continues to focus on portfolio quality and lending to the prime segments of its existing markets. The Group will continue to identify opportunities to diversify its lending products and asset classes by setting up new organic operations or through acquistion.

 

PCF Bank currently offers retail savings products for individuals and then deploys those funds through its four lending divisions:

• Business asset finance which provides finance for vehicles, plant and equipment to SMEs;

• Consumer motor finance which provides finance for motor vehicles to consumers;

• Azule which provides finance to the broadcast and media industry; and

• Property bridging finance which provides loans to companies and sole traders investing in residential and commercial property.

 

The Group has a track record of profitability and sustainability through an efficient and scalable business model. Utilising its technologically advanced platform, PCF Bank provides both depositors and borrowers with a high level of service and a straightforward, simple range of products tailored to suit their needs.

Recently recorded video profiles of PCF's Property Bridging Finance, Azule Broadcast Equipment Finance, and Savings divisions are available at the Company's profile page on the London Stock Exchange website:   https://profile.lsegissuerservices.com/PCFGroup/overview.

 

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