Cabot Credit Management Appoints a New Head of Conduct and Compliance
Cabot Credit Management (CCM), a leading acquirer and manager of consumer debt, has appointed Ian Rea as Head of Conduct and Compliance.
Rea, who most recently held the role of UK Head of Conduct Risk at HSBC, has over 25 years experience in financial services. In his role, he will be responsible for managing and continuing to develop the Group’s compliance and regulatory strategy, compliance systems and monitoring, regulatory controls, conduct risk and regulatory risk measurement.
Benne Peto, Chief Conduct and Risk Officer, CCM, said: “We are extremely pleased for Ian Rea to be joining our senior management team. He has a wealth of experience in compliance and risk, and will be a valuable asset to our Group. Our business is evolving and expanding, with positive customer experiences and fair customer outcomes, continuing to be a focal point.”
Rea’s previous experience includes working as a senior manager in Deloitte’s Risk and Regulation division as well as an Associate in Supervision for the FSA. He has also worked in different retail management roles within financial services for HBOS plc and Lambeth Building Society.
Rea will start with immediate effect and will report directly to Peto.
About Cabot Credit Management
Cabot Credit Management is a market leader in debt purchasing, contingency collections, process outsourcing and litigation. The Group encompasses six key businesses including Cabot Financial, Cabot Financial Ireland, dlc, Apex Credit Management, Gesif and Mortimer Clarke Solicitors (a specialist litigation law firm, authorised and regulated by the Solicitors Regulation Authority).
As of 30 September 2015, the combined Cabot Credit Management group has invested £1.7 billion in acquiring portfolios with a Face Value in excess of £16.0 billion. CCM has an ERC (estimated remaining collections) of £1.9 billion. It manages in the region of £1 billion of assets on behalf of clients, collects over £35 million per month on portfolios it either owns or services on behalf of clients, and has delivered a consistently strong financial performance, having grown its business in each of the last 16 years without exception.
The group, which has purchased over 7 million customer accounts, employs approximately 1200 people with offices in Kings Hill, Stratford-upon-Avon, Brackley, Dublin, Worthing, Madrid, and London. The company prides itself on its ethical values, customer service and high standards. It has an impressive list of accolades including:
· Investors in People Gold and Champion awards
· Treating Customers Fairly Award 2015, Credit Today
The controlling shareholder of Cabot Credit Management is Encore Capital Group, an international speciality finance company providing debt recovery solutions. The remaining equity is held by a fund advised by J.C. Flowers & Co., in addition to company management.