Arrow Global has today (10/11/14) announced the purchase of selected assets from Tessera Credit Group LLP (‘Tessera’) and that the servicing of these assets will transfer from Tessera to Arrow Global’s servicer network.
Arrow Global is also pleased to confirm that Leigh Berkley, CEO of Tessera and President of the Credit Services Association, will be joining the senior management team at Arrow Global as Director of External Affairs and Development in February 2015.
Commenting on the announcement, Tom Drury, CEO of Arrow Global, said: “The purchase of selected assets from Tessera further strengthens our position in the UK market. We have worked very closely with the Tessera team since 2011 and will look to ensure a smooth transition of accounts into our servicer network.
“We are very pleased that Leigh will be joining our senior management team. His appointment will enhance our engagement with wider stakeholders as the industry continues to consolidate and transition into the new regulatory regime.”
Leigh Berkley commented: “I’m delighted to be joining the Arrow Global team. The business is the natural home for these selected Tessera assets. Its rich data and servicer panel will ensure continuity of service for clients and customers alike.”
The Arrow Global and Tessera teams are already working on the migration of the relevant customer accounts to Arrow Global and will be sending correspondence to customers as appropriate. In the meantime, customers will be requested to carry on managing their accounts as normal.