Credit Management December 2019

INTERVIEW
SALE AND
RETURN
Sean Feast FCICM shares a coffee
and a chat with the Chief Executive
of Hoist Finance’s operations in the
UK, Julian Winfield.
SF: WHEN DID YOU JOIN
HOIST FINANCE?
JW: It was in 2014. I had built
a career in financial services,
culminating in a spell at the
insurance broker Towergate as Chief
Financial Officer of its Paymentshield
business. Looking for a further challenge I
was introduced to Najib Nathoo who was then
heading up the Hoist Finance business in
the UK. The company had recently acquired
Robinson Way and Najib was looking for a
Chief Financial Officer to help him drive the
business forward. I took over the reins as
CEO in December 2016.
SF: WHAT’S THE STRATEGY FOR
HOIST FINANCE?
JW: Hoist Finance is one of the UK’s top three
debt purchasing operations, specialising in
the purchase of unsecured non-performing
loans from the banks. We are focused on
supporting our key banking clients, and are
also exploring how me might diversify into
other asset classes such as secured loans.
What is particularly important is that we stay
relevant and competitive in what is a mature
market.
SF: ARE MARKET CONDITIONS
IMPROVING?
JW: Yes they appear to be. Prices do seem to
be softening, and margins are improving.
Liquidity is tight compared to a year or even
two years ago and that’s a good thing. Most
of the portfolios are still coming from the
same sellers and it is difficult for new buyers
to enter the market, but that’s typical in a
mature market.
SF: WHAT IS THE BIGGEST
CHALLENGE YOU FACE?
JW: We need to keep improving, to collect
more for our clients, but to look after our
customers and put them at the heart of
what we do. We have to keep exploring new
ways of engaging with our customers, and
in particular making the most of the digital
channels. That’s not to say that we should
not be talking to our customers; it is more
about making sure they have the channels to
communicate with us (and us with them) that
make them feel most comfortable, including
‘self-serve’.
SF: IS FURTHER INDUSTRY
CONSOLIDATION LIKELY?
JW: Yes I think so. I don’t think we have seen
the last of the M&A activity. Funding is not
particularly easy to access at the moment,
but I still expect more consolidation in the
future.
SF: HAS THE APPOINTMENT OF THE
NEW REGULATOR BEEN A GOOD
THING FOR THE INDUSTRY?
JW: Yes. It has had a positive benefit in
ensuring that businesses have the right
controls in place to consistently treat
customers fairly and put them at the heart of
everything they do.
SF: WHAT DO YOU MAKE OF RECENT
GOVERNMENT INITIATIVES TO
SUPPORT THE CONSUMER?
JW: Initiatives like the proposals to introduce
a 60-day breathing space for the most
vulnerable customers, is what most of us in
the industry have been doing for some time
anyway and it is part of the CSA Code of
Practice, so it will have little impact on our
existing approach.
Liquidity is tight
compared to a year or
even two years ago and
that’s a good thing.
The Recognised Standard / www.cicm.com / December 2019 / PAGE 17