Company Background
Private & Commercial Finance Group plc is a fast-growing finance house whose shares are quoted on the AIM market of the London Stock Exchange.
Why are we different? - Unusually for a finance house, we are not owned by a bank, but are truly independent. We are a public company whose shares are quoted on the AIM market, part of the London Stock Exchange.
We are keen to do business and small enough to have short lines of communication to a decision maker, so our decisions are made quickly and clearly. We are also innovative, flexible and fast on our feet.
When you deal with Private & Commercial, you deal with real people, with real minds, not a call centre. Most of our staff have a stake in the company through our employee share option scheme and take pride in giving a professional service.
The group has grown by a combination of strong organic growth and four acquisitions.
The group operates in two divisions:
Consumer finance - which finances cars for consumers
Business finance - which finances plant equipment and vehicles for businesses and local authorities
Board of directors:
Michael Cumming, (Date of birth 06/08/1940), member of the Audit Committee and of the Remuneration Committee, Non-executive Chairman was appointed as a non-executive director in March 2003. He has over thirty-five years experience in industry and finance, fifteen of which were spent as managing director of Barclays Development Capital. He currently holds a number of non-executive directorships of investment trusts in addition to being Chairman of Mercia Fund Management and Matrix Venture Fund VCT. He is a former non-executive director of World Gaming PLC to which an administrator was appointed on 13 October 2006.
Anthony Nelson, (Date of birth 23/10/1943), Non-executive Deputy Chairman, is a member of The Association of Corporate Treasurers. After qualifying as a solicitor, he spent three years with Ford Credit in the UK and subsequently held a variety of increasingly senior management positions with two other multi-nationals.
For the twelve years prior to founding Private & Commercial Finance Group plc with Scott Maybury and Robert Murray, he was Chief Executive of McDonnell Douglas Bank, which he grew from a start-up in 1981.
Peter Shea, (Date of birth 17/09/1952), member of the Audit Committee and of the Remuneration Committee. Appointed as a non-executive director in October 2001. He held senior positions with both Chase Manhattan Bank and Midland Bank before becoming an associate director of Corporate Finance at Bear Stearns & Co. He is Chairman of Daniel Stewart & Co., whose activities include acting as a nominated broker to AIM companies.
Scott Maybury, (Date of birth 09/04/1961), Chief Executive, holds a degree in business studies. After qualifying as an accountant, he spent six years with BHP-Billiton, Australia’s largest multi-national corporation, and five years with McDonnell Douglas Bank.
Robert Murray, (Date of birth 08/07/1960) Managing Director of the Business Finance and Consumer Finance Divisions, holds the ACIB Banking Diploma and has over fifteen years banking experience gained with Barclays Bank, Deutsche Bank, Canadian Imperial Bank of Commerce and McDonnell Douglas Bank.
He has been involved in lending to personal, corporate and sovereign customers and also has extensive skills and experience in the appraisal and administration of a variety of financial portfolios.
Zane Kerse, (Date of birth 24/08/1960) Finance Director, has been a Chartered Accountant since qualifying with Price Waterhouse Coopers in 1989. He also worked in the retail motor and financial software industries before joining Private & Commercial Finance Group plc as Financial Controller in 2001
Faisal Al Yousef, (Date of birth 21/06/1976). Member of the Audit Committee, was appointed as a non-executive director in August 2005. He is an associate of the Chartered Certified Accountants and holds a BSc in Economics from the University of London. Before rejoining the family business, he spent two years with Ernst & Young’s audit department in Oman and UAE.
His other current directorships include Aberdeen Holdings Limited, Falcon Insurance Company SAOC (Oman), Al Maha Ceramics SAOC (Oman) and Rees Oil and Gas LLC (Oman).
Audit Committee:
The Audit Committee consists of Michael Cumming, Peter Shea and Faisal Al-Yousef. The Audit Committee meets twice a year and is responsible, inter alia, for ensuring that the financial performance of the group is properly reported and monitored and also for meeting the auditors and reviewing the reports from the auditors in relation to the financial statements and internal control systems.
Remuneration Committee
The Remuneration Committee consists of Michael Cumming and Peter Shea. The Remuneration Committee is responsible, inter alia, for reviewing the performance of the executive directors and for setting the scale and structure of their remuneration and the basis of their service contracts,, bearing in mind the interests of the shareholders. The Remuneration Committee also determines the allocation of share options to employees under the Approved Share Option Scheme.