In Focus Consumer Credit
and charities to provide the best possible outcomes.
Operationally, what functions need to be put into place to run the fund? We have worked to reorganise the group into different interdependent functions. Previously we had some fund-management business, but now we have built a much bigger central fund-management business, which interfaces with our servicing operations, group support functions and our newly created Commercial and Asset Management team responsible for maximising investment performance for both the fund and our existing back book. There is a huge amount that goes into
this, such as building relationships with new third-party service providers, new processes and establishing working patterns. We need to understand that the new
investors to the fund will be different in nature to shareholders; many have completed extensive due-diligence exercises and we need to create our ongoing communication style with them. There has been a lot of work around
financial controls as we put in place a rigor- ous controls framework. Plus, there is a vol- ume play as the number of deals will now be significantly greater.
Certainly, there is a need for players
like Arrow as financial institutions look at ways to get non-performing or non-core loans off their balance sheets. I have been struck by the wide variety
In recent years this has expanded significantly and without doubt the opportunity continues to be very broad with a large pool of primary and secondary specialised assets. It is also hard not to be impressed by the company’s approach to its customers
of different asset classes that are available – our heritage was in purchasing non- performing consumer loans. But in recent years this has expanded
significantly and without doubt the opportunity continues to be very broad with a large pool of primary and secondary specialised assets. It is also very hard not to be impressed
by the company’s approach to its customers. It is genuinely not all about cash
collection here, rather we will take care of our customers and, where necessary, we will work hard with organisations
March 2020
www.CCRMagazine.com
Conclusion This is a major departure for Arrow, and something that we are very proud to be building. As group chief executive officer, Lee
Rochford, said in announcing our full-year results for 2019: “We are excited by Arrow’s future prospects and continue to see enormous opportunity to generate strong returns in our chosen markets. “The launch of our Fund Management
business is transformational for the group, allowing us to capture more of this opportunity while also growing our capital light earnings. “Our initial fundraise of €838m was a
milestone in our evolution to become a fully integrated alternative asset manager. “We believe we can scale this business
significantly over time and are continuing to target total Funds Under Management of €2bn by the end of 2020.” CCR
19
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52