City round-up: new CEO at Together; NCC revenues rising; Huddled launches website; SysGroup update on NED
Cheadle-based specialist lender, Together Financial Services, will have a new CEO from early 2025, it revealed today (September 12).
Richard Rowntree is joining from Paragon Bank, where he was Managing Director of the Mortgages division.
He brings more than 30 years of experience in banking, having previously held senior roles with Bank of Ireland, RBS, Santander, Lloyds TSB and Halifax.
He has extensive board experience having served as Chair of the UK Finance Mortgages Product and Service Board, and as a non-executive board member of the Estuary Housing Association and Progress Together.
Richard was awarded the Freedom of the City of London in 2023 for his work in promoting socio-economic diversity in the financial services sector.
Founder and ultimate controlling shareholder, Henry Moser, is to become the Executive Vice Chairman, continuing his active role in guiding the board in achieving the long term strategy of Together.
Mike McTighe, Chairman of Together, said: “Richard brings extensive experience in banking and will further strengthen our executive management team.
“Henry, our founder, is taking on the new role of Executive Vice Chairman and I am confident he and Richard will form a great team to take the group forward.”
Henry Moser said: “I am excited to announce Richard as my successor as CEO, as we celebrate our 50th anniversary. Together is a special business with a clear purpose and a unique culture and I look forward to working closely with Richard as we enter the next stage of our exciting growth story.”
Richard Rowntree said: “I am thrilled to join Together at this pivotal moment, as the group celebrates 50 years of remarkable success.
“This is a business that has a market-leading proposition, a clear focus on delivering positive outcomes for customers and is backed by an exceptional team of talented, experienced professionals.
“I am proud to have the opportunity to take Together to the next level and look forward to leading this continued success.”
Together announced in February this year that Chief Executive Designate, Gerald Grimes, was stepping down in the summer to pursue “other personal ambitions”.
He had joined the group in April 2020, having spent more than 30 years in financial services, spanning such institutions as Barclays, GE Capital, The Funding Corporation and Hitachi Capital.
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Mike Maddison
Manchester-headquartered technology group NCC has issued an unaudited trading update for the four months ending 30 September 2024 saying it has experienced better than expected revenues over the previous guidance c.£100m and adjusted operating profit of c.£3.5m (four months ending 30 September 2023: c.£1m adjusted operating loss).
Overall revenue is now expected to be in the region of £104m, representing c.4% growth versus the equivalent period in 2023, and group adjusted operating profit expected to be approximately £6m.
Audited group results for the 16 months ending 30 September 2024 will be released on 10 December 2024.
Mike Maddison CEO said: “We have seen the benefit to gross margin from the actions we took over 12 months ago to align our global delivery and operational headcount. We continue to simplify our business, aligning ourselves to our client needs in a competitive marketplace, to generate profitable revenue growth and sustainable gross margins.
“Our transformation journey is ongoing, and we continue to build out our core Cyber Security capabilities and our separate Escode re-branded business, which both provide future growth opportunities to continue to enhance shareholder value,” he said.
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Boop Beauty ranges
Leigh-based e-commerce business Huddled Group has launched a new and improved website for customers of its recently acquired cosmetics retail business Boop Beauty.
Boop Beauty specialises in the sale of discounted big brand cosmetics and beauty products, from Sol de Janerio, to Revolution Beauty, ESPA to Estee Lauder, providing consumers with savings of up to 80% off these products.
In July 2024 AIM-listed Huddled, run by Lancaster-born entrepreneur Martin Higginson, took a 75% controlling stake in Boop Beauty and pledged to commit further capital to support a growth strategy.
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AIM listed SysGroup has informed the market that its non-executive director Mike Fletcher, had been on the board of Tactus Holdings until 31 March 2024. Tactus was placed into administration on 23 May 2024.
