Non-Standard Finance boss resigns as lender struggles to consolidate balance sheet
The boss of Non-Standard Finance has resigned
The boss of Non-Standard Finance has resigned as the lender fights to consolidate its balance sheet.
John van Kuffeler, 72, who founded Non-Standard Finance (NSF) in 2014, is set to be replaced by the company’s CFO Jono Gillespie as she tries to raise Â£ 80million from investors to put it back on a more sustainable basis, and respond to a bunch of customer complaints.
NSF lends to clients with poor credit ratings through its Everyday Loans and Loans at Home brands.
But complaints have plagued the industry in recent months, as rule changes over affordability checks meant millions of borrowers had been mis-sold.