Leeds-based Lowell Group, widely acknowledged as the UK’s leading debt purchasing specialist, is delighted to announce that Sara de Tute will be joining its executive board.

Sara, the current president of the Credit Services Association (CSA), will fill a new role on Lowell Group’s executive board as legal and compliance director, starting 14th May 2012.

James Cornell, Lowell Group’s CEO, commented:

This appointment reflects the importance we attach to compliance and is indicative of our ongoing investment in the area. Sara is known for her knowledge and experience and we are delighted she has agreed to join us. We are very supportive of Sara’s work with the CSA and welcome the fact that it provides us with an opportunity to play a more active role to support the continued evolution of our industry by promoting best practice.

A qualified lawyer with 17 years’ legal experience, Sara is currently legal and compliance director at Wescot Credit Services, having joined the company in 2003 as head of litigation services. 

Sara de Tute commented:

 I am delighted to be joining the board and looking forward to working with James and the team to continue to build and evolve the legal and compliance function at Lowell.

Prior to joining Wescot, Sara had spent nine years working as a commercial litigation lawyer in Leeds, initially with Eversheds and later with Irwin Mitchell.

Sara was appointed a non-executive director at the CSA in September 2008 with responsibility for the compliance portfolio. She started her two year term as president in September last year.

Lowell Group today announced that it has placed a £200 million high yield bond, with a 2019 maturity and an annual interest coupon of 10.75%. The proceeds of the issue will be used to refinance existing debt.

JPMorgan Chase & Co. led the transaction and Lloyds Banking Group Plc acted as joint bookrunner.

James Cornell, Lowell’s CEO said:

I am delighted to have completed our first bond issue. This is an important strategic step in Lowell’s development and breaks new ground in our industry. It increases our flexibility and liquidity, and provides a solid long term financial base on which to continue to grow and develop the business. I’m particularly pleased with the strong support shown by investors and their confidence in our business.

 

This transaction is a very strong and early indication of the effectiveness of our new partnership with TDR Capital. The TDR team have helped us tremendously to achieve another major step in both our own and the industry’s evolution. I and the rest of the management team very much look forward to our continued success.

Leeds-based Lowell Group, widely acknowledged as the UK’s leading debt purchasing specialist, has won a national award recognising the quality of its internal communications.

The company won the Internal Communications category at the Fresh PR Awards 2012 for its campaign ‘Lowell Group the place to work: informing and engaging with our team’. The award was presented to Carol Wright, head of communications and Paul Addy, head of HR and learning, at a glittering awards ceremony attended by over 200 communications professionals.

Lowell Group, which employs 490 people, impressed the judges with its ‘Team Lowell’ culture and its ‘People Promise’, which drives the company’s internal communications programme. Launched last year, Lowell’s ‘People Promise’ is a commitment to ‘Connect, Communicate, Involve, Develop and Recognise its team members’.

Lowell Group’s business development director Richard (Dicky) Davies commented:

We’ve won lots of awards over the years but this is one of the most satisfying. Our people are extremely important to us and we work hard to make sure everyone in Team Lowell feels involved, engaged and inspired to help the company achieve its business goals.