Motor Finance Online have released their ‘Motor Power 50 List’ today, and Moneybarn are proud that it features both Shamus Hodgson , our commercial director in the top 50, and Peter Minter our managing director in the top 10.
This annual listing highlights the top 50 leaders in the world of vehicle finance as voted for by the the magazine and website readership, and adjudicated by Motor Finance staff. The list is made up of members of manufacturer captive finance providers, independent lenders, and the majority from finance providers.
The move of industry regulation from the Financial Services Authority (FSA) and Office of Fair Trading (OFT) to the Financial Conduct Authority (FCA), including moving regulatory law from the Consumer Credit Act to the Financial Services & Markets Act, means the top 50 list includes the Chancellor of the Exchequer, the Business Secretary, the governor of the Bank of England and the head of the FCA.
The list describes Shamus Hodgson and Peter Minter below:
Shamus Hodgson, director, Moneybarn
Hodgson joined Moneybarn back when the company was known by its original name of Duncton, and before it moved into the titular barn.
He is considered a key figure at the subprime motor finance provider, which was sold for £120m to Provident.
Explaining Moneybarn’s success in 2014 in dealing with the FCA, Hodgson told Motor Finance: “I think the advantage we have is we’ve always been quite risk-averse and quite traditional in our view of life.”
Peter Minter, managing director, Moneybarn
2014 was one of the biggest years in Moneybarn’s history, as the company was sold to non-standard finance provider Provident for £120m. Minter, along with the entire Moneybarn management team was kept on. This was unsurprising given that since he joined Moneybarn in 2002, then called Duncton, the company has gone from a relatively small player in the subprime market to a major force to contend with, surviving a recession in the process.
Even before the buyout, the lender moved into much larger premises in order to cope with the rapidly growing headcount, and the company has also experienced dramatic growth in its business levels alongside this.