Lowell and GFKL Group unveil board structure

Hilgert was formerly chief executive of WestLB and deputy chief executive of DZ Bank. He has also served in non-executive director and chairman roles in consumer credit, asset management and private banking.

He will work with other non-executive representatives from Permira Funds and Ontario Teachers' Pension Plan (OTPP), the group's investors, as well as Adrian Hill, the existing UK chair, on the group's non-executive investor board.

The board has also recruited Christopher Trepel as group chief science officer. Trepel joins from Fenway Summer, a Washington DC-based financial services investment firm, where he served as an operating partner in Fenway Summer's venture capital fund.

He was also previously senior vice president and chief scientific officer at US credit management firm Encore Capital Group.

Trepel will lead a group-wide decision science programme to enhance data analytics and asset pricing.

The group has also announced the remaining members of its group executive board, consisting of key members from its UK and German executive teams:

• It will be jointly led by James Cornell, chief executive of Lowell Group, and Kamyar Niroumand, chief executive of GFKL;
• Lowell's Colin Storrar will act as overall group chief finance officer;
• Lowell's Sara de Tute will head up group legal and compliance;
• GFKL's Marc Schillinger will be responsible for group sales with a view to optimising synergies between the UK and German markets;
• The structure is also complimented by the existing UK and German boards.

Cornell said: "We start a new chapter as one of Europe's leading end-to-end credit management service providers whose vast experience and expertise will cement our leadership position, which is anchored by our core strengths in data analytics and operational efficiency.

"Quite simply, we believe we are well positioned to become the marketplace's most trusted and reputable partner in European receivables management."

Niroumand said: "With our new group we have brought together the finest talents from across our industry, and are further enhanced by the significant business expertise and experience of Heinz and Chris.

"Together, we will better serve our core markets in Germany and the UK and, in time, cement our leadership position across the wider European landscape."

About Lowell Group

Founded in 2004 and headquartered in Leeds, Lowell Group is one of the UK’s largest receivables management companies, employing over 1,200 people. It comprises two distinct businesses, Lowell Financial and Fredrickson. Lowell Financial, based in Leeds, specialises in investing in defaulted consumer debt portfolios and their recovery, while Fredrickson, based in Surrey, is a multi-award winning Debt Collection Agency (DCA). The business has deep relationships with a diversified, blue-chip customer base, across various industries, incl. financial services, communications, home retail credit and utilities. Established in 2004, Lowell has acquired in excess of 17 million accounts and has nine million customers, which represents a significant proportion of the UK’s credit active population.

For further information visit www.lowellgroup.co.uk  

About GFKL Financial Services

Headquartered in Essen, Germany, GFKL is the largest non-captive receivables management company in Germany. It employs 950 people and manages a receivables portfolio of EUR 16.4 billion for clients from various industries, including banks, insurance companies, online retailers and telecommunications companies. The company is one of the very few service providers in the market that has a high-quality professional receivables management offering, servicing not only major corporations but also medium-sized companies. GFKL has a huge growth potential in Germany and worldwide. An increasing number of companies are outsourcing their receivables management today, particularly small and medium-sized businesses which often lack the resources to do it themselves. GFKL’s competency in receivables management comprises a wide portfolio and high quality standards. GFKL has repeatedly been awarded Standard & Poor’s best possible servicer rating “Strong, Outlook Stable”.