Provident makes Shrimpton permanent head of Moneybarn

Provident Financial announced the appointment of David Shrimpton as the managing director of its car finance division Moneybarn on Friday, subject to regulatory approval.

The FTSE 250 company said Shrimpton had been acting managing director of Moneybarn since March, following the departure of Shamus Hodgson.

Its board said he had “excellent” banking and consumer finance experience in both customer service and operational roles.

Shrimpton joined Moneybarn in January 2019 as director of customer experience.

Before that, he was group customer services and operations head at Wonga, and managing director of customer services and global sales and retention for Citibank.

“David has done a great job in his capacity as acting managing director of Moneybarn, leading the business through the key early stages of the Covid-19 pandemic and into a new operating dynamic as lockdown slowly unwinds,” said chief executive officer Malcolm Le May.

“I look forward to working with him as we continue to support our customers through this difficult time and also as we develop plans for Moneybarn's future.”

David Shrimpton said he was “delighted” to be the new managing director of Moneybarn.

“I believe we've got a strong future ahead of us as we continue to grow the business and deliver on our social purpose.

“Cars aren't just a luxury, they are a way of life for many people.

“We want to help even more customers buy the cars they need to get to work and make the most of leisure time with their families, as well as commercial vehicles to run small businesses.”

At 0812 BST, shares in Provident Financial were down 0.54% at 166.3p.