A NEW chief exective officer has been appointed at Bexhill-based insurer Hastings Direct.
Hastings Insurance Group (HIG) has appointed Gary Hoffman to the position of Group CEO with effect from yesterday (Thursday).
His predecessor, Edward Fitzmaurice, takes on the role of Executive Chairman of Hastings Insurance Services, the main UK trading entity within the Ggoup, and will spend more time shaping the long term strategic direction of the business.
Mr Hoffman has held a number of senior positions in the UK financial services industry. He spent 25 years with Barclays where he was an Executive Director from 2004-2008 and group Vice Chairman from 2006-2008. He held a number of senior management roles in the Retail Bank, part of which was Barclays Life, including introducing telephone banking and running marketing and distribution. He was CEO of Barclaycard from 2001-2005 and then was made Chairman of UK Banking and Barclaycard responsible for the worldwide card and UK Retail and Commercial Businesses.
At the height of the financial crisis, Mr Hoffman was asked to lead the successful rescue, stabilisation and restructuring of Northern Rock. Since 2010 Mr Hoffman has been CEO of NBNK, a banking start-up formed to bid for the UK bank branches which Lloyds Bank is being forced to sell by the EU Commission.
Mr Hoffman said: “Since the management buyout in 2009, Edward Fitzmaurice and his team have done an exceptional job in returning the Group to profitability and building the business. There is now a great platform to build upon with Hastings people dedicated to providing the right value and service to customers in a market that doesn’t always do that.
“I’m looking forward to working with this entrepreneurial team to take the Group into its next period of growth.”
Hastings Direct says this is an important addition to the management team, reflecting Hastings’ continuing growth in scale and profits.
Gary Hoffman’s appointment has been approved by the FSA.