Arrow Global Group PLC Directorate Change - Appointment of NED (3952R)

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RNS Number : 3952R

Arrow Global Group PLC

09 December 2016

09 December 2016

ARROW GLOBAL GROUP PLC

Directorate Change - Appointment of Non-Executive Director

Arrow Global Group Plc ("Arrow Global", the "Company" or the "Group "), one of Europe's leading purchasers and managers of debt, is pleased to announce the appointment of Andrew Fisher as a Non-Executive Director with immediate effect. Andrew will be joining the Company's Audit and Risk Committee and Remuneration Committee with immediate effect.

Andrew, a chartered accountant, is currently the Finance Director of FTSE100 Provident Financial plc, having been appointed in 2006. He has spent over 20 years as Finance Director of major listed companies where he has accumulated broad international experience and a considerable depth of knowledge across a variety of consumer credit asset classes. Prior to working in industry, he was a partner with Price Waterhouse LLP.

Arrow Global further announces that it will have separate Audit and Risk Committees with effect from 25 January 2017. Andrew Fisher will chair the Audit Committee and remain a member of the Risk Committee. Iain Cornish will continue to chair the Risk Committee and remain a member of the Audit Committee.

The members of the separate Audit and Risk Committees, effective from 25 January 2017, will therefore be:

Iain Cornish, Andrew Fisher, Maria Luís Albuquerque and Lan Tu. All are independent Non-Executive Directors.

Jonathan Bloomer, Chairman of Arrow Global, said: "I am delighted that Andrew Fisher will be joining the Board as a Non-Executive Director. Our strategy is clearly focused on growing and developing both our geographic reach, client relationships and asset diversification. Andrew's broad international financial services experience including in the areas of credit cards, consumer finance and vehicle finance will complement existing skills and competencies on the Board and be invaluable to the Group as it continues its successful growth and development.

The Risk Committee is responsible for advising the Board on the Group's overall risk appetite and for overseeing and advising the Board on the current risk exposures of the Group and the overall risk management approach and systems of internal control. The Board considered that, given the increased geographic footprint, complex regulatory environments and the consequent impact on risk exposures, it was now appropriate to have separate Audit and Risk Committees, as is the case in many other listed financial services companies.

Andrew Fisher will take over the chair of the Audit Committee from Iain Cornish with effect from 25 January 2017. Given Andrew's broad finance and accounting background, this makes him an ideal appointment to this important role allowing Iain Cornish to focus on chairing the Risk Committee going forward."

There is no further information that is required to be disclosed under paragraph 9.6.13R of the Listing Rules relating to Andrew Fisher.

Arrow Global Group PLC [phone]

Stewart Hamilton, Company Secretary

This information is provided by RNS

The company news service from the London Stock Exchange

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December 09, 2016 02:00 ET (07:00 GMT)