Hoist Finance strengthens geographical footprint in Spain
Hoist Finance AB (publ) (Hoist Finance) has acquired the Madrid-based servicing company, Optimus, to support and accelerate its plans to become the leading debt restructuring partner to financial institutions within the Spanish market. It announced its first portfolio acquisition on June 17.
Najib Nathoo, Regional Director, Hoist Finance, describes the acquisition as a cornerstone investment with Optimus delivering an end-to-end outsourcing platform: “Optimus comes with outstanding people with the perfect blend of expertise, energy, integrity and commitment,” he explains.
“The acquisition will allow us to further strengthen our knowledge and credentials in Spain, and build on our relationships, working with partners and experts who have proven experience and a similarly proven track record in the local market.”
Included among the ‘outstanding people’ is Cecilia Richards, the founder and current head of Optimus. Cecilia started Optimus in 2010 after a career at Citigroup in Spain and Argentina where she specialised in Credit Risk. As part of the acquisition, Cecilia will become the Hoist Finance Country Manager for Spain.
“I am excited to be joining Hoist Finance,” she says, “and will work hard with our team to further grow our footprint in the Spanish market and to deliver a best-in-class offering to the Spanish banking industry.”
The parties have agreed not to disclose the purchase price.
For further information please contact:
Michel Jonson, Group Head of Investor Relations
Telephone: +46 (0)8 555 177 19
About Hoist Finance
Hoist Finance is a leading debt restructuring partner to international banks and financial institutions, offering a broad spectrum of advanced solutions for acquisition and management of non-performing unsecured consumer loans. Hoist Finance operates through eleven in-house collection centers across Europe, complemented by local external debt servicing partners. The total carrying value of Hoist Finance’s acquired loans was approximately SEK 11.3 billion as per 31 December 2015. The parent company Hoist Finance AB (publ) is listed on Nasdaq Stockholm Mid-Cap list and its subsidiary Hoist Kredit AB (publ) is a regulated “Credit Market Company” under the supervision of the Swedish Financial Supervisory Authority (Sw. Finansinspektionen). In Sweden, the company offers internet-based savings deposit services through HoistSpar, with around 85,000 accounts.
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