PCF Group PLC Planned Organisational and Directorate Changes (9404Q)
03 Marzo 2021 - 1:01AM
UK Regulatory
TIDMPCF
RNS Number : 9404Q
PCF Group PLC
03 March 2021
3 March 2021
PCF Group plc
("PCF", the "Bank" or the "Group")
Planned Organisational Changes and Directorate Change
PCF Group plc announces that after more than 27 years in the
roles of Managing Director and Company Secretary, Robert Murray
will be retiring at the end of March 2021. He will not be seeking
re-election as a director at the Company's Annual General Meeting
on 26 March 2021 and will step down from both roles on that day.
Robert advised the Board of his retirement plans in January 2020 to
enable the Company to put an orderly sucession plan in place.
Accordingly, as announced in December 2020, we recruited a Chief
Operating Officer (COO) designate, Garry Stran, in July 2020. Garry
is an experienced financial services professional having previously
had roles within banking, credit management, corporate finance and
advisory, most recently in the fintech sector. Since joining the
Group, Garry has focused on the continued improvement of the
Group's operational business processes and formally assumed his
role as COO on 1 March 2021. Garry's time to date, working in the
business will ensure an orderly handover. An application has been
made to the Financial Conduct Authority and the Prudential
Regulation Authority for Garry Stran to assume the COO
responsibilities of the Group.
The Group is pleased to advise that Robert has agreed to remain
with PCF in an advisory capacity to provide subject matter
expertise in credit risk-related projects.
Robert Murray, outgoing Managing Director, said: "I have enjoyed
all of my 27 years at PCF, working with colleagues, customers,
brokers, advisers and shareholders to help build the business into
an AIM-listed, specialist bank with a portfolio of over
GBP400million. In particular, I am pleased to have worked with and
am grateful for the support of my colleagues and the Board. PCF has
a fantastic team and culture which gives me confidence for its
continued success."
Garry Stran, COO, said: "I am delighted to have joined PCF at
this exciting time in its development and look forward to
continuing to work with Scott, the Board and the entire PCF team to
drive further growth and value in the business. I would like to
wish Robert a long and happy retirement and thank him for the
support he has given me since my arrival at PCF."
Commenting on today's announcement Tim Franklin, Chairman, said:
"Robert has been a significant contributor to the growth and
success of PCF from its earliest days. His enthusiasm for our
business and our customers together with his knowledge of our
markets have been invaluable assets to the Group. We wish him well
in his hard earned and much deserved retirement."
end
For further information, please visit https://pcf.bank/ or
contact:
PCF Group Tel: +44 (0) 20 7222
Scott Maybury, Chief Executive Officer 2426
Robert Murray, Managing Director
Tavistock Communications Tel: +44 (0) 20 7920
Simon Hudson / Edward Lee / Tim Pearson 3150
Peel Hunt (Nominated Advisor and Broker) Tel: +44 (0) 20 7418
Andrew Buchanan / James Britton / Rishi 8900
Shah /
Duncan Littlejohns
Shore Capital (Joint Broker) Tel: +44 (0) 20 7408
Henry Willcocks - Corporate Broking 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 GBP140 million to over GBP430 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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END
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