Interim CFO Announcement
Prospa Group Limited (ASX”PGL) (“Prospa”) announces that Peter Loosmore has been appointed as interim Chief Financial Officer as of 28 January 2020.
Mr Loosmore has previously served as CFO at Westpac Financial Services, St George Bank (Retail Bank) and Suncorp Life; Director of Finance at Rothschild, and worked at Deloitte as a Management consultant, and has recently undertaken various interim assignments at ANZ Bank, AMP, BNP Paribas, NSW State Super and iCare.
CEO Greg Moshal said Prospa was delighted someone of Peter Loosmore’s calibre and extensive listed company experience was joining Prospa as interim Chief Financial Officer.
“Peter’s significant financial services experience and deep understanding of financial portfolio management will be of great benefit to Prospa, as we enter the next phase of our evolution as a listed company and execute our strategy to help small businesses in Australia and New Zealand to grow and prosper.”
Having guided Prospa as it scaled to a successful listing in 2019, Mr Edoardo Bigazzi and the Company have mutually agreed he will transition from his position as Chief Financial Officer and leave the company in March to pursue other opportunities. A search for Mr Bigazzi’s permanent replacement is underway.
CEO Beau Bertoli said, “Ed has been a valued member of our executive team and has made a significant contribution to Prospa over the past four years, stewarding the Risk and Finance functions from start-up to scale-up and being instrumental in building Prospa’s funding platform. The Board and the team at Prospa wish him well in his future endeavours.”
Prospa’s Group Head of Capital Management, Mr Raj Bhat, will also take responsibility for financial planning and analysis and yield management of all capital products across the Group. Raj was previously a Partner at KPMG, Vice President at Barclays Capital, Associate Director Leveraged Finance at Westpac as well as spending several years with ANZ.
Prospa’s CY19 results will be released on Thursday February 27, 2020.
The company confirms guidance issued on 18 November 2019 for H1FY20 for Originations of $298.2 million, Revenue of $75 million and EBITDA of $4 million; and for FY20 for Originations of between $626 million and $640 million, and Revenue of at least $150 million.
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