Changes at the top of subprime lender

Sir Nigel Knowles

Subprime lender Morses Club which said that digital growth was helping it stay resilient in the face of challenges created by Covid-19, has appointed a new chair of the board.

Sir Nigel Knowles will take up the position as chair on 1 March 2022 subject to FCA approval.

Knowles will replace Stephen Karle who is set to retire on 28 February 2022, after seven years with the Leeds-based business, leading it through its successful IPO and supported its transition from a pure home collected credit provider to its current position as a market-leading provider of non-standard credit.

Knowles, the former chair of Sheffield City Region Local Enterprise Partnership has been Morses Club’s senior independent director since May 2016 and is the group CEO of global legal firm DWF Group PLC.

The former global co-chairman and senior partner of DLA Piper, he is credited with DLA Piper’s remarkable growth, leading the firm through a series of mergers and taking the firm from its regional origins to become a leading global practice.

He received a knighthood in 2009 in recognition of his services to the legal industry.

Sheryl Lawrence, who joined the Morses Club Board in May 2021, will take up the position of senior independent director.

Morses Club has also announced that Andy Thomson will retire as an NED having worked with Morses Club for the last twelve years and been appointed CFO in 2016, before stepping down in July 2019. Most recently Thomson stepped back in to support Morses Club as interim CFO in March 2020 for seven months, but following a period of ill-health has decided to retire and will leave the board at the end of 2021.

Sir Nigel Knowles, said: “I have worked with Stephen and Andy for the last five years and they have both played a significant role in the development of Morses Club. Their leadership, commitment and understanding of the business have been invaluable. On behalf of the Board, we would like to extend our sincere thanks to Stephen and Andy for their contribution to the business and wish them both a long and happy retirement.

“I am delighted to have been appointed chair of Morses Club. I look forward to driving the continued growth of the business as it consolidates its position as the UK’s largest HCC provider and seeks to capitalise on the growing success of its digital division to reach its full potential.”