Business Wire

4finance Further Enhances Corporate Governance Framework

Del

4finance Group S.A. (the “Group”), Europe’s largest online and mobile consumer lending group, announces the appointment of a new Chairman as well as changes to the committee structure of its Supervisory Board.

Lado Gurgenidze has been appointed as Chairman of the Group’s Supervisory Board, taking over from Nick Jordan. Nick remains a board member and has agreed to chair the Asset & Liability Committee (the “ALCO”), one of two new Supervisory Board committees established this month. Lado joined the Supervisory Board in July 2017 and has played an active role, particularly in helping to deploy international best practices in governance and reporting within the firm.

The establishment of the ALCO recognises the Group’s need to diversify its sources of funding to support future growth, in particular as the business expands its near-prime portfolio. It will also be critical in facilitating a deeper engagement with the Group’s bondholders. The brief of the Audit Committee has also been expanded, establishing a roadmap for this committee to develop into an Audit & Risk Committee as the Group matures. Finally, a Nomination and Remuneration Committee has been established at the Supervisory Board level.

The charter of the Supervisory Board has been amended to reflect its evolving capabilities and its broader role in setting the strategic direction of the Group.

Lado Gurgenidze, Chairman of the Supervisory Board, commented:

“On behalf of the Supervisory Board, I would like to thank Nick Jordan for his leadership as chairman since the Supervisory Board was established just over a year ago, and we are grateful for his continuing strategic contribution to our funding activities as we look to sustain the future growth of the Group.

“The additional oversight responsibilities brought by these changes reflect what is expected of a world-class financial institution, which we aspire to be. The newly-established nomination and remuneration committee of the Supervisory Board has made significant progress in setting out a performance-based remuneration policy for the key executives. This will serve the Group well in recruiting and retaining exceptional talent and fostering a meritocratic culture.

“The Supervisory Board will work hard to provide the right support, guidance and strategic oversight to the company as we aim to take 4finance to the next level.”

Mark Ruddock, CEO of 4finance commented:

“The establishment of a world-class corporate governance framework, and the strengthening of the role of our Supervisory Board are important elements in laying the foundation for the future of 4finance. Lado’s contribution in developing this has been very welcome.”

The changes outlined above are effective as of 1 October 2017 and details of the Group’s board and management structure are available on its website at www.4finance.com.

Notes to Editors

Established in 2008, 4finance is the largest and fastest growing online and mobile consumer lending group in Europe with operations in 17 countries. Putting innovative data-driven analysis into all aspects of the business, 4finance has grown rapidly, issuing over EUR 4 billion to date in single payment loans, instalment loans and lines of credit.

4finance operates through a portfolio of market leading brands with strong regional presence including Vivus, SMSCredit and Zaplo. A responsible lender, offering simple, convenient and transparent products and service, 4finance is meeting growing customer demand from those under-served by conventional lending.

4finance has group offices in Riga (Latvia), London (UK) and Miami (USA), and currently operates in Argentina, Armenia, Bulgaria, the Czech Republic, Denmark, the Dominican Republic, Finland, Georgia, Latvia, Lithuania, Mexico, Poland, Romania, Spain, Slovakia, Sweden and the USA. The group also provides consumer and SME lending through TBI Bank, its EU licensed banking operations in Bulgaria and Romania.

www.4finance.com

Contact information

For more information, please contact:
4finance (Investor Relations)
James Etherington
Email: investorrelations@4finance.com
+44 (0)7766 697 950
or
Guy Middleton
Email: press@4finance.com
or
Instinctif Partners (International Media)
Email: 4finance@instinctif.com
+44 (0)20 7866 7887
Mark Walter
David Simonson

Om Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Følg saker fra Business Wire

Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra Business Wire

CES Unveiled Amsterdam to Feature IoT, Smart Cities and Robotics17.10.2017 16:19Pressemelding

The Consumer Technology Association (CTA) announced today that more than 35 companies will showcase innovative products at the first-ever CES Unveiled Amsterdam, breaking the record for most exhibitors at an inaugural Unveiled event abroad. The event follows the fifth CES Unveiled Paris and serves as a preview of the innovative technology on display at CES 2018. CES Unveiled Amsterdam is scheduled to run from 1:30-5:30 PM on October 26, 2017 at the Beurs van Berlage. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171017006457/en/ “CES Unveiled Amsterdam is on track to break nearly all of our inaugural-year records for an Unveiled event abroad. From attendees to exhibitors, the tech community in the Netherlands and surrounding countries is showing unparalleled levels of interest in this event,” said Gary Shapiro, pre

Dropbox Brings Powerful Business-Grade Tools to Individuals with Dropbox Professional17.10.2017 16:00Pressemelding

Dropbox today launched Dropbox Professional, a new offering that introduces business-grade tools to help individual users store, share, and track work from a single, secure place. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171017006383/en/ Owners can add details on the materials in the Showcase at the top of the page. (Graphic: Dropbox) Dropbox Professional is designed to meet the needs of independent workers—a group that’s expected to rise to 47.6 million by 2022[1]. The new offering brings together the most popular storage, sharing, and support solutions from Dropbox with new ways to present work to help individuals showcase their creativity in the best light. “Work is becoming more fluid as the scope of projects that individuals can take on expands,” said Todd Jackson, Head

The New Foldable Smartphone ZTE Axon M with Dual Screens Transforms the Mobile Experience for Consumers17.10.2017 14:40Pressemelding

ZTE Mobile Devices today announced the category defining ZTE Axon M, a foldable smartphone with dual screens that delivers a revolutionary smartphone experience to enable consumers to multitask and enjoy content in a better way. The ZTE Axon M provides the multitasking capabilities of two screens and a viewable screen size of a tablet, yet is the size of a traditional smartphone when folded, fitting easily into a pocket. Coming soon to consumers through leading partners in the US, Japan, China and Europe, the ZTE Axon M delivers new experiences never before seen in the smartphone market. “The ZTE Axon M is the beginning of true smartphone innovation, and ZTE is leading the way,” said Lixin Cheng, CEO of ZTE Mobile Devices. “The mobile technology ecosystem and consumer habits have evolved over the past several years, but the smartphone design has only slightly varied throughout that tim

Murex to Offer Cloud-Based Trading and Risk Management Solutions17.10.2017 14:00Pressemelding

Sibos - Murex, an industry leader in trading, risk management and processing solutions for capital markets, announces it has certified its MX.3 technology platform to run on Microsoft Azure. Since early 2016, Murex has collaborated with Microsoft to bring to market solutions enabling clients’ digital transformation. This collaboration has now come to fruition with the availability of support for the Murex MX.3 platform on Azure, as well as the planned integration of Microsoft SQL Server 2016 as a relational database for MX.3. Murex has certified Azure for its most demanding use cases including GPU-powered solutions for computationally intensive workloads. This enables Murex clients to leverage the flexibility and economies of scale of the cloud to meet new requirements. Those opting to adopt cloud as part of their infrastructure will continue to benefit from the full support

euNetworks Partners with Cloudwirx17.10.2017 14:00Pressemelding

euNetworks, a provider of bandwidth services in Europe, today announced it is working with Cloudwirx, enabling their West Coast client base with rapid access to euNetworks high bandwidth services. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171017006083/en/ Brady Rafuse, Chief Executive Officer of euNetworks (Photo: Business Wire) Cloudwirx is a leading procurement and systems integrator for data centre and bandwidth infrastructure services, helping companies source, build and optimise their IT systems and networks. Whether it’s for a start-up or Fortune 100 company, Cloudwirx matches enterprises with the right technologies, services, and suppliers, with the goal of decreasing costs while increasing the value add of their IT systems. They have a growing client base who, while predominantly U

Asseco SEE’s Enterprise Fraud Monitoring & Prevention Solution InACT® is in GarantiBank NV17.10.2017 13:59Pressemelding

Asseco SEE (ASEE), part of Asseco Group, 6th largest software vendor in Europe, announced today, that GarantiBank NV, member of BBVA Group, has deployed InACT® Enterprise Fraud Management to prevent and monitor fraud. Chosen by leading international banks and financial institutions to stop internal and external fraud activities since 2009, an additional tailor-made file management module has been developed for GarantiBank NV to manage SWIFT and SEPA transactions for the project. InACT® File Management Module checks and resolves SWIFT and SEPA message files regularly and filters through InACT® fraud scenarios. Also, InACT® produces alarms for managers to prevent fraudulent activities by identifying related files. With this infrastructure developed by ASEE, GarantiBank NV intends to enhance its fraud monitoring activities on a digital platform rather than manual controls. This change is

I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.

Besøk vårt presserom