Provident Financial names ex-B&B CEO Rodrigues as chairman of int'l unit UPDATE |
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Fri, 26 Jan 2007 09:03
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(Adds background, detail)LONDON (AFX) - UK sub-prime lender Provident Financial PLC has appointed Christopher Rodrigues, a former chief executive of banking group Bradford & Bingley (B&B), as the chairman of its international division.The appointment comes ahead of the international unit's demerger, scheduled to take place in the spring.'I am joining at an exciting time,' Rodrigues said.'The international division is expanding rapidly and the demerger will enable a new focus to be brought to a business which provides consumers with a product and service they value,' he said.Rodrigues, 57, oversaw B&B's transformation from a mutually-owned building society to a stock market-listed banking group in Dec, 2000. He is also a former president and chief executive of credit card firm Visa International.Provident Financial, whose main business is advancing small unsecured loans to borrowers who cannot get credit from mainstream banks, first announced plans to demerge the international unit last year.The business, focused on eastern and central Europe, is growing faster than Provident's core UK arm.Provident Financial shares closed at 753 pence yesterday, valuing the company at about 1.9 bln stg.newsdesk@afxnews.commn/vjt/mn/amCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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Provident Financial names ex-B&B CEO Rodrigues as chairman of intnl division 