New COO at Cattles as chairman steps down

CATTLES has appointed a new chief operating officer to its lending subsidiary Welcome Financial Services but chairman Norman Broadhurst is resigning from the group’s board.

Mr Broadhurst is resigning from the struggling group’s board before the group’s forthcoming AGM.

Paul Mackin has joined from Littlewoods Shop Direct Group, where he has been managing director of its financial services division, Everyday Financial Solutions since 2006.

Mr Mackin has also previously held senior roles with Legal & Trade Financial Services, a division of New York-based IntelliRisk Management Corp; HFC Bank, Time Retail Finance and GE Capital GCF UK. 

Chairman of Birstall-based doorstep lender Cattles, Mr Broadhurst, said: “I am delighted that Paul is joining us. He has over 20 years’ experience in consumer financial services and considerable expertise in areas which are core to our business recovery as we continue our current discussions with our banks and debt providers.”

Discussions with Cattles’ bankers, bondholders and holders of its US Private Placement Notes are still ongoing as the lender tries to stabilise its financial position.