Ad hoc: 4finance S.A.: 4finance announces the return of Kieran Donnelly as Group CEO

4finance announces the return of Kieran Donnelly as Group CEO  

18 September 2020.4finance Group S.A. (the "Group"), one of Europe's largest digital consumer lending groups, announces the appointment of Kieran Donnelly as Group CEO, effective 1 October 2020. Oyvind Oanes is to leave the Group by mutual agreement at the end of September.  

Mr Donnelly was previously CEO of 4finance from January 2014 to May 2016 and Chairman of 4finance Holding S.A. until December 2016. Since then he has been a member of the supervisory board of TBI Bank EAD, which is fully owned by the Group.  

"On behalf of the Supervisory Board, I would like to thank Oyvind for his strong contribution to 4finance," commented Bill Horwitz, Chairman of the Group's Supervisory Board. "He managed the Group through a particularly challenging couple of years, driving the broadening of the business into the near-prime segment during a period of rapid regulatory change, overseeing the optimisation of the firm's footprint and then lately leading its Covid-19 response as well as securing the EUR bond maturity extension.  

"We are glad to welcome Kieran back to 4finance in the Group leadership role. He has a long history with the business, most recently on the supervisory board of TBI Bank, which now represents over half the Group's loan portfolio and has delivered a consistently strong performance. Kieran's in-depth knowledge of the Group, and his broad financial experience, make him ideally positioned to lead the 4finance business at this time."  

Kieran Donnelly commented: "I'm excited to have this opportunity to lead 4finance again. This business remains one of the key players in online consumer lending in Europe with market leading brands and, in TBI Bank, has a strong and growing near-prime lender. I look forward to working with the team to deliver for all our stakeholders as we move beyond the challenges of 2020."

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www.4finance.com This announcement contains inside information as stipulated under the Market Abuse Regulation. Certain statements in this document are "forward-looking statements". These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from those included in these statements.

Notes to Editors

About Kieran Donnelly

Kieran Donnelly has over 30 years of management experience in the finance sector, having held senior roles at Standard Bank Group, MDM Bank and Renaissance Group prior to working with consumer lending businesses including 4finance.

About 4finance

Established in 2008, 4finance is one of Europe's largest digital consumer lending groups with operations in 15 countries. Leveraging a high degree of automation and data-driven insights across all aspects of the business, 4finance has grown rapidly, issuing over €8 billion since inception in single payment loans, instalment loans and lines of credit. 4finance operates a portfolio of market leading brands, through which, as a responsible lender, the firm offers simple, convenient and transparent products to millions of customers who are typically underserved by conventional providers. 4finance has group offices in Riga (Latvia), London, Luxembourg and Miami, and currently operates in 13 countries in Europe as well as Argentina and the USA. The Group also offers deposits, in addition to consumer and SME loans through its TBI Bank subsidiary, an EU licensed institution with operations primarily in Bulgaria and Romania.