Home Credit Group Announces Executive Appointments
Amsterdam/Moscow/Beijing/Prague, 05/03/2007
Home Credit Group, an international consumer finance provider, is pleased to announce a series of executive appointments, which represent a significant step in its international expansion and development as the new senior executives will add significant functional and leadership expertise to the business.Home Credit & Finance Bank, Russia
Paul Batchelor is being appointed Chief Executive Officer of the Home Credit & Finance Bank, Home Credit's operation in the Russian market. Mr. Batchelor has more than 20 years of global financial services experience. His previous roles included Chief Executive Officer of AMP Limited, a leading Australian banking, insurance and wealth management provider then operating in 20 countries and with annual revenues of $30 billion and Group Chief Financial Officer of Colonial Limited, an Australian financial services group with insurance, pensions, asset management and banking divisions operating in 12 countries and with annual revenues of $10 billion. Most recently, Mr. Batchelor served as Chairman and Board Member of several companies and also acted as a venture capital investor.
Evgeniy Bernshtam joined the Home Credit & Finance Bank as its President and Deputy Chairman of its Board of Directors. Mr. Bernshtam's unique market knowledge, which he gained through his previous professional career, includes an 8-year tenure as First Deputy Chief Executive Officer of Alfa Bank, one of Russia's largest privately owned banks. He also served as the Chief Executive Officer of the Ukrainian industrial holding, Interpipe.
Home Credit China
Kwok-Yuen Poon is being appointed Chief Executive Officer of the Home Credit Group's emerging presence in China. He will be responsible for developing the consumer finance business in the Chinese market. Throughout his career Mr. Poon has distinguished himself in a variety of senior roles including Head of Personal Banking Division with Standard Chartered Bank; Brunei Vice President and Retail Banking Executive for the Chase Manhattan Bank in Hong Kong; President and Chief Executive Officer of AIG Finance Hong Kong and his most recent role as Country Head for the AIG Consumer Finance Group in China.
Home Credit Czech & Slovakia
These appointments complement the recent announcement of Erich Comor, who joined as Chief Executive Officer of Home Credit in the Czech Republic and in Slovakia. Prior to this Mr. Comor spent three years as Chief Marketing & Product Officer at GE Money Bank in the Czech Republic, to which he came after seven years with McKinsey & Company.
Home Credit Group
Ian MacDonald is joining the Home Credit Group as Group Executive Officer, Consumer Finance. Mr. MacDonald's overall group responsibilities include product, sales, brand and cross-selling strategies, together with the leadership of Home Credit's Key Account Management. Mr. MacDonald is joining fromHouse of Fraser, a leading British retailer, where he held the position of Director, Card Services. Prior to this he spent nearly a decade working for GE in the UK and Europe where he held a number of senior roles including Managing Director of GE Capital Warranty Services and Managing Director, GE Consumer Finance UK. Mr. MacDonald also served as Chief Operating Officer, Europe for First-e Group, the UK's first internet only bank.
Fedele Di Maggio is joining the Home Credit Group as Group Executive Officer, Banking. In his overall group responsibilities, Mr. Di Maggio will lead Home Credit's banking and branch management strategies and their implementation. Building on his market experience, he will also be responsible for management of Home Credit's operations in Ukraine. He started his career by joining Morgan Stanley International and subsequently spent over 10 years with McKinsey & Company, where he was named a Partner in 2000. In 2004 Mr. Di Maggio joined the KBC Group where he held the positions of Vice President and Chief Operating Officer of the Kredyt Bank in Warsaw and later served as an Advisor to the President of KBC Group in Brussels. Most recently, as Chief Operating Officer for UniCredit Bank in Kiev, he was in charge of building Ukrainian presence of the Bank Pekao, member of the UniCredit Group.
Branko Jelicic is being appointed Chief Operating Officer of Home Credit Group. Mr. Jelicic will be responsible for Home Credit Group's IT, Operations, Procurement and Business Development on a global basis. He will also lead the efforts to explore Home Credit's potential new distribution channels and drive cross-country programs. Mr. Jelicic is joining Home Credit from McKinsey & Company, where in his last role he was Partner in charge of McKinsey's Business Technology Office for Eastern Europe. He has spent the last ten years with McKinsey, initially in the New York office and then in Prague. Mr. Jelicic brings a unique set of financial services industry experience throughout his consulting career, where he has worked exclusively for financial institutions in the areas of strategy, product development, IT and operations.
On these executive appointments, Alexander Labak, Chief Executive Officer and Managing Partner of the Home Credit Group and Chairman of the Board of Home Credit B.V. commented: "I am thrilled that these senior business leaders have decided to join Home Credit as this reaffirms the attractiveness of our business model. Each of them will add significant functional and leadership qualities, representing a decisive step in our quest to extract substantial value from our operations. I am convinced that Home Credit has the strategic and execution qualities in place to succeed in its chosen markets."
Home Credit Group also announces that Declan McSweeney is leaving his role as Chief Financial Officer. At the same time he is stepping down from the Board of Directors of Home Credit B.V., where he will be replaced by Pavel Vyhnalek, Home Credit Group's Chief Risk Officer. Mr. McSweeney will continue to serve as an Executive Advisor to the Board of Directors until October 2007. In transitioning out of his role he will also assist with the on-boarding of his successor for the role of the Chief Financial Officer. Until this successor is named, Alexander Labak will assume the responsibilities of the Chief Financial Officer.
Mr. McSweeney commented: "Home Credit has a convincing and actionable strategy to take full advantage of the exciting growth opportunities available in its markets. However, I have decided to base my business activities in Ireland because I wish to spend less travel time away from home. That said, I am certain that Home Credit is very well positioned to succeed and I wish the team all the best in the future."
Mr. Labak added: "I have been pleased having a professional of Declan's seniority on my leadership team and I certainly respect the personal and family reasons for his decision to return to Ireland."
Notes to Editors:
Home Credit Group
The companies comprising the Home Credit Group operate in the Central and Eastern European and Central Asian consumer finance markets and during 2006 had granted loans in the combined principal of USD 2.7 billion. Home Credit maintains a leading position in the consumer finance markets of the Czech Republic (which it entered in 1997), the Slovak Republic (in 1999), the Russian Federation (in 2002), and the Republic of Kazakhstan (in 2005). Home Credit Group entered the Ukrainian market in 2006. The Home Credit Group belongs to the PPF international group of companies which has interests in insurance and consumer finance, and provides complex asset management services.
For further information, please contact:
Media:
Jiri Hajek
Marketing & Communication Director
PPF a.s.
Tel: (+420) 224 559 563
E-mail: hajek@ppf.cz
Investors & Analysts:
Tomas Cerny
Head of Capital Markets
Home Credit Group
Tel: (+420) 224 559 174
E-mail: tomas.cerny@homecredit.eu
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05/03/2007
