Arrow Global Group PLC Appointment of Chief Financial Officer (8782T)

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RNS Number : 8782T

Arrow Global Group PLC

18 October 2017

18 October 2017

Arrow Global Group PLC

("Arrow Global" or the "Company" and together with its subsidiaries the "Group")

Appointment of Chief Financial Officer

Arrow Global announces that Rob Memmott, who has been with the business for six years, has decided to step down as Group Chief Financial Officer ("CFO"). Paul Cooper, currently CFO of the international insurance business Sompo Canopius, will replace Rob as Group CFO and will join the Board when he starts on 1 January 2018. Rob will stay with the business through to the end of February 2018 to ensure a smooth handover.

A qualified chartered accountant, Paul is a highly experienced CFO with experience in financial services roles both in the UK and overseas. He joins Arrow Global from leading global insurance business Sompo Canopius Group where he has been in a variety of senior executive roles since 2013. He was previously a partner at Ernst & Young LLP in the Financial Services division, following five years as a Finance Director at the quoted insurer, Hiscox.

Lee Rochford, Group Chief Executive Officer of Arrow Global Group PLC, said:

"I am delighted Paul has been appointed as Group Chief Financial Officer and I look forward to working with him as we continue to successfully execute our growth plan.

"I would like to take the opportunity on behalf of the Board to thank Rob for his significant contribution in transforming Arrow Global from a private UK-based debt purchaser into a quoted, pan-European leader in credit management services. We wish him all the very best for the future."

ENDS

For further information:

   Arrow Global Group PLC                             [phone] 

Lee Rochford, Group CEO

Duncan Browne, Head of Investor Relations

   Instinctif Partners                                         [phone] 

Giles Stewart

Rui Videira

Notes

Regulatory Disclosures

The Company confirms that there are no details to disclose in respect of Listing Rule 9.6.13R.

With effect from 1 January 2018, the composition of the Board of Arrow will be as follows:

               Jonathan Bloomer                   Non-Executive Chairman 
               Lee Rochford                          Group Chief Executive Officer 
               Paul Cooper                            Group Chief Financial Officer 
               Iain Cornish                             Senior Independent Non-Executive Director 
               Maria Luís Albuquerque           Independent Non-Executive Director 
               Andrew Fisher                         Independent Non-Executive Director 
               Lan Tu                                     Independent Non-Executive Director 

Remuneration arrangements

The compensation package offered to Paul Cooper is in line with Arrow Global's shareholder approved remuneration policy. There has been a buy out on some elements of previous bonus and LTIP on a like for like basis and full details will be included in the Company's Directors' Remuneration Report for 2017.

The section 430(2B) statement in relation to Rob Memmott will be available on the Company's website.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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October 18, 2017 02:00 ET (06:00 GMT)