Lender IPF names new head of finance

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Credit lender International Personal Finance has recruited the man who uncovered RSM Tenon’s accounting blunder as its new finance chief.

Adrian Gardner will join Leeds-based IPF on January 2 as chief financial officer following the decision to promote David Broadbent, who has been finance director since the company was listed in 2007, to the newly created role of chief commercial officer.

Mr Gardner uncovered the blunder at RSM Tenon, which was subsequently bought by rival Baker Tilly in a pre-pack administration, shortly after his arrival at the firm in late 2011.

Mr Gardner has spent more than a decade as CFO at a number of companies.

Before RSM Tenon he was CFO of PA Consulting Group and earlier in his career he was a managing director of Lazard LLC, having qualified as a chartered accountant at Price Waterhouse.

In his new role, he will be responsible for IPF’s finance, treasury, investor relations and legal services and he will be a member of the executive committee.

In the new role as chief commercial officer, Mr Broadbent will be responsible for the strategic transformation and modernisation of the company’s home credit business, leading the technology and customer service teams as well as having responsibility for its M&A activity.

He will remain a member of the board.

IPF’s chief executive Gerard Ryan said: “These changes are a reflection of the positive momentum in our business.

“Adrian will bring a wealth of new experience and proven business acumen to us at a very exciting point in our development and Dave’s unrivalled knowledge of the business will help us to effectively transform our already successful business into one that is ready for the challenges of tomorrow.”

Last month IPF, which lends to people who can’t get access to bank credit in Eastern Europe and Mexico, reported what it described as a “solid” set of third quarter results as the company passed the 2.5 million customer mark.

The firm, which employs around 160 people in Leeds, said customer numbers rose by four per cent.