Close Brothers Premium Finance announces senior management change

Close Brothers Premium Finance (CBPF) has made a senior management change as it looks to bring together core elements of the business into a new commercial function.

The move will see Colin Wallace, who previously held the position of sales director for personal lines, take up the newly created role of commercial director.

In his new role, Wallace will lead the businesses’ commercial activities and oversee the ongoing development of product, brand and proposition.

He will also continue to have responsibility for the firm’s personal lines sales team.

Wallace said: “I’m really excited about this next chapter and I’m truly humbled to be given the opportunity to lead the new commercial function.

“With these specialist areas and collective expertise all under one roof, there’s no doubt in my mind that this will enhance our ability to grow, protect and sustain our business.”

‘More opportunities’

Meanwhile, Elliott Hayes will continue to lead commercial lines, strategic accounts and networks and will oversee structural changes.

CBPF said these changes will “give them greater flexibility to meet the needs of strategic accounts, commercial lines brokers and network partners”.

Hayes said: “With the new commercial function supporting us and with the sales structure being more aligned to our broker partners, I’m confident that this will give us more opportunities to deepen our relationships and enhance our partner service.

“By working in partnership with Wallace’s teams, this is how we’ll remain the first-choice provider for premium finance.”

Shaun Hooper, chief executive at CBPF, added:“Our focus is on driving growth and continuing to develop our proposition to meet the needs of both our brokers and our customers.

”This new structure will enable us to better align our expertise, foster collaboration across the business and empower the teams as we pursue the businesses’ growth objectives.”