Industry moves round-up: Recent appointments at Virgin Money, Flexys and Credit Suisse

Susan Poot, Virgin Money

Virgin Money has appointed Susan Poot as its group chief risk officer, joining the company on 24 January. 

She joins from ING Bank, where she spent more than 20 years in a number of commercial and risk roles, the most recent of which being the chief risk officer of its retail banking division. Her responsibilities were for setting the standards for credit risk, compliance and operational risk management across all of ING’s retail markets. 

She brings with her a wealth of experience across a range of risk disciplines, and has a proven track record of working in different geographies. This included three years in India as chief risk officer and chief compliance officer at ING Vysya Bank. 

Commenting on the news, Poot said: “It’s an incredibly exciting time to be joining Virgin Money as it takes the next steps in its digital transformation. I’m looking forward to bringing my experience as the organisation accelerates its digital first strategy and develops exciting new customer propositions.”

James Hill, Flexys 

At the start of January, James Hill was appointed the chief operating officer at Flexys Solutions. 

He previously worked at Tribal where he was its global professional services delivery director with responsibility for project delivery and leadership of its global professional services and PMO divisions. 

Commenting on the appointment, Flexys’ chief executive Jon Hickman, said: “James’ experience, skills and operational approach are a perfect fit for Flexys as we continue to scale the business and take on major clients.”

Hill added: “I am delighted to be joining the highly talented team at Flexys at a time of significant growth. I look forward to working with the team to achieve our goals in 2022 and fulfilling the ambitious plans for the organisation.” 

Shelagh Doyle, Court Enforcement Services 

On 12 January, Court Enforcement Services announced it had promoted Shelagh Doyle to the role of head of audit and compliance. She joined the business in 2020 to drive forward its customer care function with quite a wide and varied remit. 

Her new role will cover a lot of ground by taking the lead on audit and compliance across all parts of the organisation. 

In a career spanning more than 20 years, she has worked with organisations such as Lloyds Banking, Barclaycard and the Financial Ombudsman Service. She was also part of the team that went into Northern Rock immediately after the financial crash in 2007. 

Commenting on her promotion, Court Enforcement Services director Alan Smith, said: “Having worked across many disciplines within financial services and collections, Shelagh’s insight and experience is invaluable in assisting the business with its ambitious plans for growth and leading our audit and compliance function in support of fairness across all of our operations.” 

Doyle added: “What I like most about working at Court Enforcement Services is that it challenges me, in a good way, every single day. 

“There is a supportive and collaborative style that was so important to me while I got to know the nuances of a new industry sector; there is always something new to learn or develop both as an individual and as part of a business. At the same time, I have been encouraged from day one to draw on my skills and experience to drive improvements to the service we offer

“I’m thrilled to continue working with the same great team of people at Court Enforcement Services and in such an exciting new role. I look forward to lots of hard work and good times ahead.”

Tommy Taylor and Duncan Jones, Just Mortgages

On 11 January, broker firm Just Mortgages announced it will be restructuring its business in order to accommodate a 100% expansion - being restructured into east and west divisions in order to efficiently manage its growth. 

The two divisions will have their own managing directors - with Tommy Taylor being appointed at the top of the eastern division, while Duncan Jones will take charge of the western division. The pair will oversee and run the growth of their divisions, while liaising closely with the Spicerhaart estate agency chains. 

Both were previously the firm’s financial services directors, opening up vacancies for others in the organisation to take on these roles. The two new financial services directors will then report into the managing directors. 

The goal now is to double the number of employed mortgage and protection advisers from 125 to 250. At the same time, it aims to increase its wealth business tenfold over the next year. 

Commenting on the news, Just Mortgages and Spicerhaart’s national operations director, John Phillips said: “The team has pulled together in both good times and bad to achieve a truly phenomenal level of growth over the past few years. 

“We have continually grown both the number of clients and the level and frequency of service we provide each client. We have done this at the same time as expanding the services that we provide them.”

Guy Harrison, SmartSearch 

Anti-money laundering specialist SmartSearch, meanwhile, has announced the appointment of Guy Harrison as its chief executive. He takes over the role from John Dobson - one of the firm’s founders - who will remain an active part of the company as a non-executive director. 

Harrison joins the business from Dow Jones, where he was general manager of Dow Jones Risk and Compliance - a prover of regulatory compliance and risk management solutions. Prior to this, he was managing director for risk, regulatory and compliance at IHS Markit. 

Commenting on his appointment, Harrison said: “SmartSearch has already delivered impressive growth, and I’m very much looking forward to working with the team to lead the business towards even greater success.  

“Fraud and money laundering attempts have risen considerably since the outbreak of the Covd-19 pandemic increasing the need for regulated businesses to have effective AML technology. SmartSearch’s state-of-the-art technology is perfectly positioned to meet this need by accurately identifying and verifying customers in just two seconds.”

Dobson added: “There is a clear and growing need for robust electronic verification to help counter money laundering and fraud. The strong growth we have achieved at SmartSearch over the past decade clearly indicates this need as paper documents can no longer be relied upon. It also gives an indication of our huge potential for further expansion.

“I feel a lot of pride in having led a worthy and successful business which will continue to grow and prosper with a very competent, energetic and innovative team remaining. 

“I felt the time had come for my second retirement and I am very happy to handover the leadership to Guy, who I know has the experience and strategic vision to steer the business through the next expansion phase as it continues to become recognised as the default solution for AML verification, both in the UK and globally.”

Peter Wallwork, Arvato Financial Solutions 

On 20 January, Arvato Financial Solutions announced the appointment of Peter Wallwork as a non-executive director.

Wallwork has built a reputation for managing complex external messaging and stakeholder relationships, positioning innovative solutions into often misunderstood, highly-regulated customer-facing markets. 

As part of his work he served as chief executive of the only national trade body for debt collection, debt sale and the purchase industry - leading a team that changed the face and perception of the debt collection industry in the UK. 

He currently also advises on strategy, governance and external messaging for a new venture, aiming to tackle the issues raised in the Wollard Review for the Financial Conduct Authority, improving the way insolvency and debt solutions work for all stakeholders. 

Commenting on the appointment, Wallwork said: “I am delighted to be joining an exceptional team at Arvato Financial Solutions and at such an exciting period of the company’s growth.” 

Axel Lehmann, Credit Suisse 

On 17 January, Credit Suisse announced that its chairman Antonio Horta-Osorio would be resigning from his role after nine months at the firm. It comes after an internal investigation found that he broke the UK’s lockdown rules by attending the Wimbledon tennis finals in July. 

In a statement on the bank’s website, Horta-Osorio said: “I regret that a number of my personal actions have led to difficulties for the bank and compromised my ability to represent the bank internally and externally. I therefore believe that my resignation is in the interest of the bank and its stakeholders at this crucial time.” 

The bank has replaced Horta-Osorio with board member Axel Lehmann, who has taken on the role with immediate effect. 

Commenting on his appointment, Lehmann said: “We have set the right course with the new strategy and will continue to embed a stronger risk culture across the firm. By executing our strategic plan in a timely and disciplined manner, without distraction, I am convinced that Credit Suisse will demonstrate the renewed strength and business focus needed to generate sustainable value for all of our stakeholders.”

Competition and Markets Authority chief executive to step down

At the start of January, the Competition and Markets Authority (CMA) announced its chief executive Andrea Coscelli will step down this summer.  

Leaving the regulator in July, it comes after six years in the role. He joined the CMA as an executive director when it was created in 2013 and has held the position of chief executive since July 2016. 

In March 2020 he was reappointed to the role for a further term of two years. 

Commenting on the news, CMA chairman Jonathan Scott, said: “Andrea has given outstanding leadership to the CMA during a period of unprecedented change for the UK competition and consumer protection regime.

“As an executive director, he was integral to the creation of the CMA in 2013. Subsequently, as chief executive, he has led the organisation through a period of transformation, as we took on substantial new responsibilities after the UK’s departure from the EU along with new functions including the Office for the Internal Market and the Digital Markets Unit.

Coscelli added: “By July I will have served for almost nine years as an executive director at the CMA, including six as chief executive. I feel now is the right time to confirm I will not be seeking another term.

“There is still a huge amount of work to do over the next six months and my focus will be on delivering the organisation’s objectives and enabling a smooth transition. I am grateful to everyone at the CMA for their dedication to consumers and for all the support they have shown me.”