The new CEO, Gary Jennison, has 35 years of retail banking and finance experience. He joins from Payzone, the payments processor, where he was Managing Director and oversaw a significant turnaround project. Prior to that he was Chief Executive of Secure Trust Bank, the retail subsidiary of Arbuthnot Banking Group, and before that he managed the UK branch network of Barclays Bank.
Commenting on the announcement, Marc Goldberg of the Blemain Group, told B&C: “Gary has become the Deputy CEO of Jerrold Holdings and CEO of Cheshire Mortgages. He will help us drive business forward at an integral point as we look to expand and grow the business. The appointment also allows further support within the team and for existing senior members to improve in their roles.”
Jerrold Holdings, the secured lender to the residential and commercial property sectors, announced yesterday that Gary Jennison had been appointed to the new role of Deputy CEO of the Group.
Gary will be joined on the board of directors by Steve O'Hare who has joined as a non-executive director and represents Jerrold shareholder Equistone Partners Europe.
Steve O'Hare is a partner at Equistone Partners Europe and is responsible for leading Equistone's investment activity in the North of England. He joined Equistone in 2004 from KPMG's Corporate Finance department, where he qualified as a Chartered Accountant and gained an MBA.
Robert Michael McTighe, Non-Executive Board Chairman at Jerrold Holdings, commented: "I am delighted to welcome Gary and Steve to the board at such an exciting time for Jerrold. Their appointment comes after a successful year for the business. With our financial position strengthened by our inaugural bond issuance, Gary's wealth of industry experience will be invaluable in ensuring that we make the most of increasing customer demand as the UK economy continues to recover."
In September, the Manchester-based lender raised £200 million of high-yield bonds to increase its funding lines. The Group is clearly going from strength-to-strength and will enter the New Year with a stronger team and bigger funding lines.
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