Press Release

FLA WELCOMES NEW CONSUMER FINANCE DIVISION CHAIRMAN

10 May 2007

FLA’s board have appointed Nigel Terrington, Chief Executive Officer of the Paragon Group of Companies, as Chairman of its Consumer Finance Division for the two year term to 2009.

Nigel Terrington is CEO of The Paragon Group of Companies.  Paragon, a specialist lender, is a member of the FTSE 250 and is best known as a leading buy-to-let lender.

Nigel joined the Group in 1987 and became CEO in June 1995, having previously held the positions of Treasurer and Finance Director.  Prior to Paragon, he worked in investment banking, with Charterhouse and Union Bank of Switzerland.

Nigel has been Chairman of the Intermediary Mortgage Lenders Association, a member of the CML Executive Committee and is currently a main Board Director of the FLA and has been vice-Chairman of its Consumer Finance Division for the last two years. 

As well as appointing David Betteley of Toyota Financial Services as FLA Chairman, FLA have also made appointments of new chairmen in its asset and motor divisions: Richard Priestman (Lombard North Central) has taken over from Chris Stamper (ING) as Chairman of the Asset Finance Division; and Doug Moody (DaimlerChrysler Financial Services) has taken over from Peter Cottle (Capital Bank Motor) as Chairman of the Motor Finance Division. Both have previously served as vice-chairmen of their respective divisions.

The Board will welcome Stephen Sklaroff, the incoming FLA Director General, from 21 May.