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The latest news and updates for the Castle Trust group
Castle Trust Capital plc is pleased to announce the appointment of Ronnie Denholm as Managing Director of Omni Capital Retail Finance, its point of sale finance division.
Following the acquisition of Omni Capital Retail Finance in 2016, Castle Trust has restructured the operations of the business and has ambitious plans for progress.
Ronnie is an experienced financial services leader and joins the business from Barclays Bank Plc, where he held various Managing Director roles across the business, including most recently Barclays Partner Finance, one of the UK’s largest point of sale finance companies. Prior to joining Barclays, Ronnie held several senior leadership roles across the American Express group, with a strong growth record across each of the business areas he led.
Martin Bischoff, Chief Executive Officer of the Castle Trust Group said: “Opportunities to work with someone of Ronnie’s calibre are rare, so we are privileged to have him on board. As he’s demonstrated in the past, he is a very capable pair of hands to lead the business as it looks to grow. We have big ambitions for Omni Capital Retail Finance, which Ronnie is integral to helping us achieve.”
Speaking of his appointment, Ronnie said: “I am delighted to join Omni Capital Retail Finance. The company has undergone a lot of changes recently and the prospect of leading the next phase of the company’s growth is an exciting challenge. I look forward to working together with the team to consolidate the business’ position within the market and expand its operations further. “
Castle Trust announces two further management changes.
Barry Searle, the company’s current Chief Operating Officer will become the company’s new Managing Director (Mortgages). Barry has been with Castle Trust since 2014, he has been instrumental in the growth of the company, especially within the mortgage division. He held the largest underwriting mandate and had overall responsibility for operations. During Barry’s financial services career he has held senior roles at various institutions including Legal and General’s mortgage division and GMAC RFC.
Stuart Sykes will be joining the company as Operations Director from MyJar, where he has been Group Customer Operations Director for the last four years. He has previously held roles at ICICI Bank, RBS and Lloyds Banking Group.
Speaking of the appointments, Martin Bischoff, Chief Executive Officer said:
“As the company’s COO, Barry is already very familiar with both the industry and the aims of the business and was a natural choice to fill the role. He has contributed enormously to the success of the business so far and will be a pivotal part of our transition to become a bank.
“Stuart has extensive experience in the lending environment, particularly in consumer finance. We are delighted that he has chosen to join us as we move into Castle Trust’s next phase.”
Following continued success, Castle Trust has entered discussions with the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) to pursue a banking licence application.
This represents the next phase of growth for Castle Trust, which was originally authorised by the FSA in September 2012. Since then, Castle Trust has offered investment products alongside its mortgage range and now has approximately £750m of assets under management and £660m of bonds outstanding. In 2017, Castle Trust further expanded the offering with the acquisition of Omni Capital Retail Finance.
As a result of this growth, the company has applied for the licence to support the continued evolution of the business and enable it to further expand the product offering across both the mortgage, savings and consumer finance arms.
Speaking of the application, Sean Oldfield, Group Chief Executive said:
“We are delighted with the progress of the business to date and today marks a significant moment in the evolution of the company. Making the application for a banking licence will allow us to continue our innovative approach to both investments and mortgages as the business continues to grow.”
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