NM Money Group announces leadership transition
CRICKHOWELL, Wales – (COMMERCIAL THREAD) – NM Money Group (“NM”), the UK’s leading independent ATM operator and provider of consumer financial products, and holding company of Corsair, a leading private equity firm focused on investments in services, software and payments in financial services, today announced that NM founder Peter McNamara is stepping down as CEO. Philip Bowcock has been appointed CEO, effective immediately, and he will assume all of Mr. McNamara’s responsibilities at the head of the company. Mr. McNamara will work with the Company to facilitate a smooth transition. The company also announced today that Jana Hile, former CFO of Cardtronics International Markets, has been appointed to the newly created position of Chief Strategy Officer.
Mr McNamara commented: “First of all, I want to congratulate Philip on his appointment and look forward to working with him on the transition. I have had the privilege of leading NM Money Group for the past 15 years and am proud of the organization we have built and become today. After all the hard work of the team, I believe the company is now well positioned to take advantage of the opportunities presented in the market and I have no doubts that Philip is the right person to lead the company in this next phase of growth.
Mr Bowcock said: “I am honored to take on this important role at NM Money Group. It is a strong company, with experienced leadership and many talented colleagues across the organization who are committed to ensuring the future growth of the company. I look forward to using my experience to further consolidate NM as a market leader and bring even more success in the future. ”
“I would like to thank Peter for his tremendous contribution to NM during his tenure, ”said Lord Mervyn Davies, President of NM Money Group. “His unwavering focus on successful market share growth and expansion into new profitable businesses has been instrumental in building the company to its current position. Thanks to his work, NM is now widely recognized as a diverse UK market leader in a number of companies with a solid foundation for future growth.
Lord Davies continued: “We are happy to welcome Philip and Jana to NM Money Group. Philip will play a critical leadership role in meeting the challenges and growth goals of the business, while strengthening his collaborative approach with all stakeholders, including customers, suppliers and colleagues. Corsair is delighted to support these experienced managers in a company with an excellent track record and an exciting future. ”
Philip Bowcock has extensive experience and an excellent track record in leading consumer-driven multi-site companies with a strong digital presence. Prior to joining NM Money Group, Mr. Bowcock served as CEO of Countrywide plc group until its successful sale to Connells. Previously, he was CFO and CEO of William Hill plc, where he led a successful two-year transformation that significantly increased company revenue and held senior finance roles at Cineworld Cinemas, Luminar, Barratt Development , Tesco and Hilton Group.
Jana Hile has over twenty-one years of experience in financial services and a deep understanding of global markets and sustainable value creation. She most recently served as CFO of International Markets for Cardtronics, where she was instrumental in executing a five-year growth plan, including integrating several acquisitions and expanding into new ones. markets. Prior to Cardtronics, Ms. Hile was Chief Financial Officer and Global Chief Financial Officer of Access Prepaid Worldwide at MasterCard and held senior positions at Travelex Ltd and Tyco Electronics.
About NM Money Group
NM Money Group is one of the UK’s leading consumer-focused financial services groups serving over 15 million customers per month. NM uses a vertically integrated business model, operating over 10,000 ATMs in the UK that issue more than £ 1 in £ 5 of cash used by UK consumers, with additional ATM operations in Germany and Croatia . In addition, the NM Money brand has around 200 branches across the UK, offering both foreign exchange and mortgage services that enable the delivery of cash to consumers in over 50 different currencies within minutes of service. ordered.
Corsair is a specialized global investment firm providing investor opportunities and business solutions in financial and commercial services and infrastructure. The company has nearly three decades of experience partnering with companies at the crossroads of technological transformation and the complexity of financial services and established its practice of investing in complementary infrastructure in 2015. Corsair has invested $ 12 billion in capital in its global buyouts and infrastructure platforms since its inception.