Cabot Credit Management Appoints Derek Usher as its Managing Director for its UK Debt Purchase business
Cabot Credit Management Ltd (CCM), the UK’s leading credit management service provider, has appointed Derek Usher as its Managing Director, UK Debt Purchase.
Usher, who joins after four years at Travelex, will be responsible for ensuring CCM’s debt purchase business continues to lead in the UK market, driving it forward onto the next stage of growth. He will play a key role in embracing the requirements of our clients and of our new regulator and will make certain that customer experience remains as the key focus of our business.
Usher has over 20 years experience in the financial industry and has held a variety of roles including Integration Director, Lloyds Banking Group, Head of IT and Head of Risk Operations, HBOS Retail.
Ken Stannard, Group Chief Executive Officer, Cabot Credit Management, said: “We have created this new role to give specific focus to our debt purchase business. Derek Usher has enormous experience in the financial services sector and will be a great asset to our already strong management team.”
Usher starts with immediate effect and will be based at the Kings Hill office in Kent reporting directly to Stannard.
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 1300 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.