Executive Change: Lowell Group Appoints Bob Collins Director of Compliance

Leeds-based Lowell Group, one of the UK’s largest debt purchasing specialists, has appointed Bob Collins as its director of compliance.

He will take charge of the company’s dedicated compliance unit, which is responsible for ensuring that Lowell is up-to-date and compliant with all relevant industry regulations and guidelines, and that the company and its staff adhere to all internal procedures.

One of his key responsibilities will be to maintain close links with relevant external regulatory bodies to ensure Lowell’s views on compliance issues are well-represented and the company is prepared for any changes that are proposed

A member of Lowell’s senior management team he will report directly to CEO James Cornell.

Collins has spent the last ten years in senior management roles at GE Capital Bank and was the organization’s first bank-wide head of compliance. Prior to joining Lowell he was head of business planning and performance responsible for planning and staffing in all the bank’s call centers across the world.

Commenting on Bob Collins’ appointment, James Cornell said: “In a highly regulated industry we are committed to leading from the front by continuously raising our operating standards across the business. We are  delighted to have recruited someone of Bob’s caliber to fill this key role in the business. His experience of the consumer credit industry and its framework of regulations and guidelines will be invaluable.

Bob Collins added: “Lowell Group is one of the fastest growing, most successful businesses in the UK and one of the reasons is its commitment to compliance and treating customers fairly. I’m really looking forward to the challenge of improving their impressive track record to date.”

Formed in 2004 with backing from a private equity fund managed by Cabot Square Capital, Lowell Group is a specialist debt purchasing company. Lowell Group buys consumer debts from a range of blue-chip organisations and then manages the recovery of those debts, working closely with debtors to help them resolve their financial difficulties and pay off what they owe.

Lowell Group reported an annual turnover last year of £50m ($98 million) and is on target to achieve continued strong growth in 2008. The business employs more than 300 people at its state-of-the art HQ and customer contact center in Leeds.
 
Lowell Group’s performance has received industry-wide recognition. In November 2007 the company was named ‘Debt Purchaser of the Year’ at a national debt industry awards event and in March 2008 it was recognized as one of the UK’s fastest growing businesses after being named ‘VC-backed business of the year’ in the Fast Growth Business Awards 2008.

In April 2008 Lowell Group was acquired by Exponent Private Equity and existing management for an undisclosed value.

James Cornell is the Yorkshire Institute of Directors’ current ‘Young Director of the Year’ and earlier this year chief operating officer Andrew Bartle was awarded the ‘Developing the Team’ award at the 2008 Institute of Credit Management Awards.