Appointment of Moneybarn Managing Director

24 July 2020

Provident Financial plc announces the appointment of David Shrimpton as Managing Director of Moneybarn

Provident Financial plc (Provident Financial) is pleased to announce the appointment of David Shrimpton as Managing Director of Moneybarn, its car finance division, subject to regulatory approval. He has been acting Managing Director of Moneybarn since March 2020, following Shamus Hodgson's departure.

David Shrimpton has excellent banking and consumer finance experience, in both customer service and operational roles. He joined Moneybarn in January 2019 as Director of Customer Experience. Prior to this, he was Group Customer Services and Operations Head at Wonga, and Managing Director of Customer Services and Global Sales and Retention for Citibank.

Malcolm Le May, Chief Executive Officer of Provident Financial, said:

"David has done a great job in his capacity as acting Managing Director of Moneybarn, leading the business through the key early stages of the Covid-19 pandemic and into a new operating dynamic as lockdown slowly unwinds. I look forward to working with him as we continue to support our customers through this difficult time and also as we develop plans for Moneybarn's future."

David Shrimpton said:

"I'm delighted to be the new Managing Director of Moneybarn. I believe we've got a strong future ahead of us as we continue to grow the business and deliver on our social purpose. Cars aren't just a luxury, they are a way of life for many people. We want to help even more customers buy the cars they need to get to work and make the most of leisure time with their families, as well as commercial vehicles to run small businesses."

Notes to Editors

1 .    Provident Financial plc is a leading provider of credit products which provide financial inclusion for those consumers who are not well served by mainstream lenders. The Group serves 2.3 million customers and its operations consist of Vanquis Bank, Moneybarn, and the Consumer Credit Division (CCD) comprising Provident home credit and Satsuma.

2.     David Shrimpton joined Moneybarn in January 2019 as Director of Customer Experience. He was Group Customer Services and Operations Head for Wonga from February 2016 till December 2018. Prior to that, he spent over 17 years at Citibank in various customer and operational roles, with his last role being Managing Director, Customer Services and Global Sales and Retention.