INVOCAS GROUP PLC
(“Invocas”, the “Company” or the “Group”)
APPOINTMENT OF CHIEF EXECUTIVE &
STRENGTHENING OF THE SALES AND MARKETING MANAGEMENT TEAM
Invocas, one of the UK's leading providers of personal and corporate debt solutions, today announces the appointment of Stephen Lightley as Group Chief Executive Officer (“CEO”) with immediate effect together with the strengthening of the Company’s sales and marketing senior management team.
Stephen has been Group Finance Director since admission to AIM in March 2006 and was a founding partner in the predecessor firm established in 1998. Stephen has played a significant role in building Invocas into the market leading business that it is today and he will be responsible for the future development and implementation of the Group’s business strategy.
The search for a new Finance Director is underway and a further announcement in this regard will be made in due course. In the meantime, Stephen will continue to oversee the finance function, supported by the Group Financial Controller.
The Sales and Marketing management team has been recently strengthened by two key senior appointments with significant experience in the sale and marketing of financial services products throughout the UK. Brian Ferguson, appointed as Director of Sales, was formerly National Sales Manager and Head of Distribution Strategy with Standard Life Bank. Bob Ollason, appointed as Corporate Account Director, has worked at a senior level with a number of blue chip lenders and, until recently, was Vice Chairman of the Council of Mortgage lenders in Scotland.
Ian Wright, the Group Managing Director, will oversee the Group’s Sales and Marketing operations.
Invocas will be announcing its preliminary results for the year ended 31 March 2008 on Wednesday 25 June 2008.
Howard Bell, Chairman of Invocas, commented:
“We are delighted that Stephen Lightley is taking on the role of Chief Executive and the Board has full confidence in his ability to lead the Group as CEO.
We are also pleased that we have been able to strengthen our sales team with appointments of the quality of Brian and Bob. We are in no doubt that the addition of their experience within the financial services sector together with the combined expertise, energies and abilities of Stephen and Ian will drive forward the growth and success of the Group in the future.”
Stephen Lightley, CEO of Invocas, said:
“I am delighted to be appointed as CEO and look forward to building on the strong platform that has been established.”
For further information:
Invocas Group plc
Howard Bell, Chairman
Stephen Lightley, CEO
Tel: +44(0)131 222 2460
Gavin Anderson (Financial PR Adviser)
Ken Cronin / Michael Turner / Anthony Hughes Tel: +44(0)20 7554 1400
Email: invocas@gavinanderson.co.uk
Charles Stanley Securities (Nominated Adviser)
Philip Davies Tel: +44 (0)20 7149 6000
Website: www.invocas.com
Notes to editors
Invocas is one of the UK's leading providers of personal and corporate debt solutions. Its Personal Insolvency Division is firmly established as a leading provider of Protected Trust Deeds (Scottish equivalent of IVAs). Its Corporate Services Division enjoys an excellent reputation in the Scottish market place.
Invocas applies stringent minimum case acceptance criteria to Trust Deeds. It will only accept a case if it is likely to progress smoothly to completion and result in a successful outcome which balances the interests of both the indebted individual and their creditors.
The Group's Newtomorrow service aims to provide indebted individuals with the right advice, first time, every time. This is achieved in a caring and professional manner by a team of highly experienced debt advisors delivering front line advice. Further information on Newtomorrow can be found at www.newtomorrow.com