New CFO for sub-prime lender

Sub-prime lender, Provident Financial has appointed Neeraj Kapur as chief finance officer.

Neeraj will join the Board and start his new role on 1 April 2020 after Simon Thomas, incumbent chief finance officer stepping down from the role due to personal health reasons following the 2019 preliminary results announcement.

Neeraj Kapur is group chief financial officer of Secure Trust Bank plc, a UK retail and SME bank. He has a strong retail banking background, including consumer finance and savings products expertise. His appointment follows a thorough process conducted by the Nomination Committee with the assistance of a leading executive search firm.

Malcolm Le May, chief executive officer at Provident Financial said: “I am very much looking forward to Neeraj Kapur joining Provident Financial as chief finance officer. He has deep retail banking, consumer finance and savings experience and expertise, and will be an excellent addition to the senior leadership team as we continue to re-establish Provident Financial as the market leading sub-prime lender. Simon has been a great chief finance officer, and on behalf of the Board I would like to thank him for everything he has achieved and wish him all the best for the future.”

Neeraj Kapur added: “I look forward to working with Malcolm and the Board as we enact Provident Financial’s social purpose of lending responsibly to the underserved, execute its strategy and deliver sustainable returns to its shareholders.”