Arrow Global's appoints ex Virgin Money CFO as CEO
Arrow Global, a provider of debt purchase and receivable management, announced that Tom Drury has decided to step down as chief executive after five years performing the role.
Arrow Global Group
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Financial Services
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17:09 19/04/24
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Former chief financial officer of Virgin Money Lee Rochford will replace Drury as CEO and board director from 3 January 2017. Drury will remain in the business until the end of February.
Chairman Jonathan Bloomer said: “Tom has made an outstanding contribution to Arrow since he joined as CEO in 2011. He led the successful IPO in 2013 and has overseen a series of strategic acquisitions which have seen Arrow grow to become one of Europe's leading purchasers and managers of debt, alongside driving a significant increase in shareholder value.”
Rochford brings extensive relevant financial services experience including running a pan-European financial institutions advisory business which focused on the acquisition and sale of portfolios of non-performing loans across Europe.
"I am delighted that Lee is joining as Group CEO. He brings a tremendous breadth and depth of experience across all of our asset classes and an extensive track record in financial services. I am confident that he is the right person to lead the Group through the next stage of its growth," said Bloomer.
Lee Rochford said: "Arrow is a very well-positioned company with leading market positions, a strong customer focused team and a compelling growth strategy. I am very excited to be joining at this time and look forward to working with the team to build on the Group's positive momentum."
The share price fell 0.68% to 290p at 1052 GMT on Wednesday.