Arrow Global, a leading investor in and asset manager of distressed loans in Europe, today announced the following highlights for the period ending 30th June 2011:
During H1 2011, Arrow Global closed 7 asset purchase and asset management deals involving £2.5bn of loans. These transactions involved 28 creditors, bringing the total number of Arrow Global's creditor partners in the UK and Europe to 47. Arrow Global now manages over 3 million customer accounts, representing more than £6bn in face value, a growth of more than 500% since the buyout in 2009 by the RBS Special Opportunities Fund and management.
The growth is broad based, with the company now having over £1bn of loans under management in each of its three core operating segments: UK debt purchase, UK asset management and Portuguese debt purchase.
To spearhead the company's continued strong growth and strong operating results, Arrow Global is pleased to announce that Tom Drury will join the company as Chief Executive Officer. Tom has extensive experience of taking entrepreneurial businesses to full maturity as successful large-scale organisations. Tom joins Arrow Global from Shanks Group Plc, a FTSE 250 Company with operations in the UK, Netherlands, Belgium and Canada, where he served as Group Chief Executive. Tom previously oversaw the development of Vertex, which under his tenure as Founding Managing Director grew to become the second largest firm in the UK's business process outsourcing sector with annual revenues of circa £500m and 10,000 employees.
"I am delighted to join Arrow Global," said Tom Drury. "I look forward to working with the rest of the team to continue building on the company's success to date and further developing Arrow Global as the clear market leader in the debt purchase industry."
"Having worked with Tom previously at Vertex, I am thrilled that Arrow Global will benefit from his skills and experience," said Zach Lewy, founder of Arrow Global. "Tom is perfectly suited to lead Arrow Global in delivering success from its market leading position in a prospering industry. I am very excited to work with Tom again."
Following Tom's arrival later in the year, Zach Lewy will become Founder and Executive Director, working closely with Tom to continue Arrow's success and profitable growth as well as working with the DBSG where Zach is currently the Vice Chairman and is scheduled to become Chairman in September. The current management changes complement the strong additions to the Arrow leadership team over the past two years which now includes Andrew Birkwood (Chief Investment Officer), Matthew Buckman (Chief Operating Officer), Sir George Mathewson (Chairman) and Jack Lavin (Advisory Board member and the former CEO and President of Arrow Financial Services in the US). Arrow Global's leadership team now has more than 100 years experience in managing financial services businesses, as well as unmatched expertise in the loan portfolio purchasing and loan servicing markets.
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