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Growth leads to Board changes at Target Group

Target Group, the financial services outsourcing and software provider, has today announced a number of changes to its Board, including the promotion of Ian Larkin and Bill Alley to the role of Co-Group CEO and the appointment of Paddy Byrne to the role of Chairman.  Following another year of significant growth the Target Board has chosen to restructure the Board and governance to build on its achievements to date and to prepare the business for further growth in the future.  These changes are subject to FCA approval.

Paddy will lead the Board, supporting both Ian and Bill, whilst ensuring effective engagement with our shareholders and championing the customer experience.  Richard Houghton, previously Chairman, will remain on the Board as Senior Non-Executive Director.  Steve Haggerty and Colin Dickie have also joined the Board as Non- Executive Directors.

Ian’s primary focus will be on business development and franchise growth.  Ian has over twenty years’ experience in financial services through leadership roles in Lloyds Banking Group and Virgin Money and consulting with McKinsey & Co. and Accenture.  Bill will have a primary focus on continuous improvement in our technology solution delivery and servicing operations, supporting and developing our engagements with clients.  Bill brings over 25 years’ of Board/executive level experience, with a strong technology and operational background at major corporates including Xchanging, ING and KPMG.

Paddy Byrne says:

“Target has developed successfully over the past few years and I am very proud of the results we have achieved during this period.  It is testament to the strength and depth of our teams that we are able to deliver this change from within our organisation.  The changes announced today will allow us to take the next step in our development.  I am delighted to be leading the Board as Target Group continues its successful trajectory."

Ian Larkin says:

“These are exciting times for Target, and I am thrilled to have the opportunity to co-lead the business into the next stage of our evolution.  Target has built a phenomenal amount of experience and expertise since being established in 1979 and has an excellent client base.  We now want to develop Target as the undisputed “go to” provider of software and servicing for lenders, insurers and investment product providers.”

Bill Alley commented:

“I am delighted to be working with Ian to deliver on our ambitious growth plans, which will be underpinned by delivering operational excellence and exceptional service for our clients and their customers.  I look forward to co-leading our team in the company’s next phase of expansion.”