Credit Management March 2024

THE NEWS
CMNEWS
A round-up of news stories from the
world of consumer and commercial credit.
WRITTEN BY: SEAN FEAST FCICM
Azzurro launches new
consumer and commercial
recoveries business
AZZURRO Associates is
launching a new business –
Solaris Law – and creating
one of the largest consumer
and commercial collections
and legal debt recovery businesses in the UK.
The launch follows the agreed acquisition by
Azzurro of Equivo’s Legal Services division and
Shoosmiths’ Business-to-Business Recoveries
division. Completion will take place as soon as
regulatory approvals are obtained.
The two teams will come together with
Solaris Law staff to create a new specialist law
firm focussed on market leading consumer
and business/commercial debt recovery. It
will initially employ more than 150 staff across
three sites. Equivo’s Field Team and High
Court Enforcement Business will not form
part of the new business and will continue to
operate under the Equivo brand with CEO,
John Ingram.
As well as creating a new business with more
than 100 years’ combined consumer credit
recoveries and commercial credit management
expertise, Solaris Law will re-unite some of the
sector’s most highly respected industry leaders:
Karen Bulgarelli, Mel Chell and Jim Taylor.
Karen and Mel will lead the new
organisation as joint Chief Executive Officers,
taking advantage of Karen’s commercial credit
skills and Mel’s specialism in the management
of asset-based lending and motor finance.
Jim will act as an advisor to the business
in managing its secured and unsecured
consumer lending clients. All three worked
together previously at Shoosmiths.
As Co-CEOs, Karen and Mel have a shared
vision to create better outcomes for all:
“We share a single-minded focus on developing
Solaris Law into a diverse, market-leading
recoveries business, built on a data-driven,
customer focused recoveries strategy that leads
to good customer outcomes and in turn gives
our clients a better service,” Karen explains.
Mel says the business will be unique in
providing complete service lines across the full
credit lifecycle: “From early and live collections
and recoveries to litigation and beyond, our
teams will be able to deliver the full suite of
services for creditors working across both
consumer and commercial lending, secured
and unsecured, and led by true sector experts
and experienced legal professionals.”
Upon the transition of the existing Equivo
and Shoosmiths teams to the new business,
client contacts will be maintained to ensure
the highest levels of service continue. The case
management platform is common across all
parties, and further investment in additional
systems and infrastructure is planned.
Andrew Birkwood, Founder of the Azzurro
Group, says the combined teams will be able
to deliver significant economies of scale: “With
the strength, agility and investment from the
Azzurro Group, we have the appetite and the
ability to build an even more formidable datadriven
business in the recoveries space with
a first-class, highly collaborative leadership
team with a shared vision, and total alignment
of culture and values.”
The Azzurro Group is regulated by both
the Financial Conduct Authority and the
Solicitors Regulation Authority. Azzurro was
also the first non-lender to sign up to the
Lending Standards Board’s Code for Business
Standards.
Brave | Curious | Resilient / www.cicm.com / March 2024 / PAGE 6