LINK Financial Expands Into Germany
16.05.2007 / 08:03 / Rubriek: Informatief / Organisatie: Link financial
Link financial
LINK Financial Expands Into Germany
LONDON, May 16 /PRNewswire/ --
LINK Financial Group, the leading European receivables management company, today announces
that it is to open an office in Cologne, Germany, in a move that will further extend its
reach across mainland Europe.
LINK's German operation will be its sixth European location, adding to its existing
operating sites in London, Madrid, Rome, Caerphilly (Wales) and its group headquarters in
Dublin. The Cologne office is expected to commence trading in September 2007, and will
grow to employ 250 staff over the next three years.
A German presence will give access to a large potential market where LINK can invest
in distressed consumer finance and mortgage receivables. The company will introduce the
highly successful operating standards pioneered through its existing collections,
litigation and customer service platforms, in a market where total lending to consumers
is estimated at EUR1.4 trillion. The move will also enhance the company's existing
relationships with some of the largest issuers in the EU, who value the continuity and
standards that LINK will also bring to their operations in Germany.
Phillippe Paillart, Chairman of LINK Financial, commented: "We are delighted to be
expanding our business into Germany, in another significant step forward for our group as
we continue to extend our reach across Europe. This move helps to consolidate our position
as a European market leader, and is an important development in our ambitious plans for
future growth."
Notes to Editors:
LINK Financial
LINK is one of Europe's largest purchasers and servicers of semi-performing and
non-performing consumer receivables. The company has acquired rights to around EUR4
billion of credit card and personal loan accounts, representing more than 850,000
individual customers. LINK operates in over 20 countries and has servicing operations in
the UK, Spain, Italy and Germany. Institutional shareholders in LINK include Morgan
Stanley and Cheyne Capital Management
For further information, please contact:
Paul Burdell
Managing Director
LINK Financial
+44-(0)20-7793-2670
Andrew Jaques / Nick Denton / Ian Payne
Hogarth Partnership Limited
+44-(0)20-7357-9477
Contact:
For further information, please contact: Paul Burdell, Managing Director, LINK Financial,
+44-(0)20-7793-2670; Andrew Jaques / Nick Denton / Ian Payne, Hogarth Partnership
Limited, +44-(0)20-7357-9477