– UK, Birstall – Morses Club PLC (LON: MCL), an established provider of non-standard credit services, today announced the appointments to its Board of Directors of Steve Curtis as Interim Chair, and Terry Baxter as an Independent Non-Executive Director, both effective from 5 November and subject to FCA approvals.
“We are delighted that both Steve and Terry have joined the Board during this period of significant change. Steve’s wealth of commercial experience, both directly in the credit sector and in wider consumer sectors, is directly relevant to Morses Club’s future business and funding strategy as we continue to work up the detail of a potential Scheme of Arrangement. Sheryl’s appointment as Deputy Chair, in addition to her other roles, adds further independence to the Board and Terry’s appointment brings particularly relevant experience during a period of transformation for the business.” said CEO, Gary Marshall.
The company also announced that Senior Independent Director Sheryl Lawrence will also take on the role of Deputy Chair with effect from 5 November and that Terry Baxter will join the Risk Committee as Chair.
About Steve Curtis
Steve Curtis has extensive experience as a Chair and CEO across a broad range of sectors, including financial, and has direct knowledge of the credit sector. He has a proven track record and particular expertise in working with financial institutions and executive teams to effect business restructuring to drive growth.
Following an early career at several large UK businesses, which led to several Board appointments, Steve set up his practice in 2012 and has since focused on the successful turnaround and growth of companies in the private equity space. Steve played a vital role in the flotation of Morses Club on the AIM market in 2016 and since April 2022 has been helping the Company in a strategic advisory position.
About Terry Baxter
Terry Baxter has extensive experience at the Board level, having worked in a variety of roles for Target Group Limited, ultimately as the Group Risk and Compliance Director, and as part of the leadership team of Grant Thornton’s Financial Services Group. Terry has conducted several skilled person reviews during his career covering a wide variety of topics such as compliance, risk management, responsible lending, and financial crime.
About Morses Club
Morses Club is an established provider of non-standard credit services in the UK. The Group consists of Morses Club, the UK’s largest home-collected credit provider1, and Shelby Finance Limited, Morses Club’s Digital division, which operates under the online brand of Dot Dot Loans, an online lending provider. The Group’s growing Digital capabilities and scalable, highly invested IT platform have enabled Morses Club to deliver a range of lending products to the non-standard credit market.
UK HCC is considered to be a specialized segment of the broader UK non-standard credit market. UK HCC loans are typically small, unsecured loans delivered directly to customers either remotely or in their homes.
Morses Club’s HCC division is the largest UK Home Collected Credit lender1 with 143,000 customers throughout the UK. The HCC division enjoys consistently high customer satisfaction scores of 97%2. In 2019 the Company introduced an online customer portal for its HCC customers, which is used by 81% of customers.
The Group’s growing Digital division, Shelby Finance, operates under the online brand Dot Dot Loans which provides online installment loans of up to 48 months to c. 39,000 active customers.
Morses Club was listed on AIM in May 2016.
For more information: https://www.morsesclubplc.com/
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