Target Group has announced a restructuring of its board to prepare the business for further growth in the future.
Changes include the promotion of Ian Larkin and Bill Alley to the role of Co-Group CEO and the appointment of Paddy Byrne to the role of chairman.
Richard Houghton, previously chairman, will remain on the board as senior non-executive director, while Steve Haggerty and Colin Dickie have also joined the board as non-executive directors.
Larkin’s primary focus will be on business development and franchise growth. He has over 20 years’ experience in financial services through leadership roles in Lloyds Banking Group and Virgin Money and consulting with McKinsey & Co. and Accenture. Alley will have a primary focus on continuous improvement in Target’s technology solution delivery and servicing operations, supporting and developing our engagements with clients. He brings over 25 years’ of board/executive level experience, with a technology and operational background at major corporates including Xchanging, ING and KPMG.
These changes are subject to FCA approval.
Byrne said: “Target has developed successfully over the past few years and I am very proud of the results we have achieved during this period. It is testament to the strength and depth of our teams that we are able to deliver this change from within our organisation.
“The changes announced today will allow us to take the next step in our development. I am delighted to be leading the board as Target Group continues its successful trajectory.”
“These are exciting times for Target, and I am thrilled to have the opportunity to co-lead the business into the next stage of our evolution,” said Larkin.
“Target has built a phenomenal amount of experience and expertise since being established in 1979 and has an excellent client base. We now want to develop Target as the undisputed ‘go to’ provider of software and servicing for lenders, insurers and investment product providers.”
Alley said: “I am delighted to be working with Ian to deliver on our ambitious growth plans, which will be underpinned by delivering operational excellence and exceptional service for our clients and their customers. I look forward to co-leading our team in the company’s next phase of expansion.”