Press Release
Paymentshield Strengthens Management Team to support Growth Plans
Paymentshield, the UK's leading provider of mortgage related general insurance products, has today announced a number of Senior Management Team changes to position the business for growth over the next three to five years.
Paymentshield under Stuart Pender, the current Chief Executive, has experienced significant growth over the last five years. The Board now believes that in order to sustain this level of growth it must now look towards a broader product set and extend its UK distribution footprint to complement its core market of mortgage intermediaries.
Paymentshield is therefore announcing the following Senior Management changes, which will become effective from 1 July 2009:
Stuart Pender, currently Chief Executive will become Non-Executive Chairman, focusing on the broader three to five year strategy for the business and the development of the distribution model for Paymentshield.
Tim Johnson, having led the exponential growth of CCV as its Chief Executive over the past three years has been appointed as the new Chief Executive of Paymentshield.
Andy Halstead, formerly Chief Executive of Erinaceous Insurance Services, has been appointed as Sales and Marketing Director of Paymentshield.
Commenting on the new appointments Stuart Pender said: "Tim brings with him a wealth of management experience in the industry, including experience of the broader commercial general Insurance market and of acquiring businesses both of which will be key in terms of supporting our future plans. Andy Halstead brings with him significant experience in a new market for Paymentshield, the UK's letting market, together with significant distribution experience and I am delighted to welcome them both to the Board."
Peter Cullum, Executive Chairman of Towergate, added: "Paymentshield has a very impressive growth track record over recent years. The development of new products and new distribution will be integral to sustaining the historic growth levels, especially in the current market environment. These latest appointments will further strengthen the team to allow the business to continue to expand over the next three to five years."
-ENDS-
For further information contact:
Francis Higney, Higney's PR 02891 882820/07941979301
Paymentshield is the UK's largest independent supplier of mortgage related general insurance to intermediaries. Part of the Towergate Partnership it is based in Southport.