The boss of Non-Standard Finance steps down as the lender battles to shore up its balance sheet
The boss of Non-Standard Finance has stepped down
The boss of Non-Standard Finance has stepped down as the lender battles to shore up its balance sheet.
John van Kuffeler, 72, who founded Non-Standard Finance (NSF) in 2014, is set to be replaced by the business’s chief financial officer Jono Gillespie as it tries to raise £80m from investors to put it back on a more sustainable footing, and address a pile of customer complaints.
NSF lends to customers with poor credit scores through its Everyday Loans and Loans at Home brands.
But complaints have been plaguing the industry in recent months, as rule changes around affordability checks meant millions of borrowers were found to have been mis-sold loans.