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Kensington picks its new chief exec

Sub-prime lender Kensington has appointed a new chief executive and non-executive chairman as founder Marty Finegold steps down from both positions to concentrate on IF Online.

John Maltby is the new chief executive of Kensington Group, the parent company of Kensington Mortgage Company, from August.

He is currently with Abbey National Treasury Services and has been executive dir-ector of Abbey subsidiaryFirst National. Finegold will continue to serve as a non-executive director.

The non-executive chairman is Peter Birch, who was chief executive of Abbey National from 1984 to 1998, overseeing its flotation in 1989. He previously held a number of positions with Gillette UK.

Maltby will lead Kensington towards its intended float on the London Stock Exchange in the next six-12 months. It has appointed Schroder Salomon Smith Barney as its financial adviser for the flotation.

Kensington says it is one of the leading mortgage lenders to non-conforming borrowers in the UK. It has made more than 25,000 loans, totalling over £1.8bn since it started in September 1995.

Maltby says: “I am very excited to be working in a growing market with a very successful business. Now we have to build the right team and approach for the float.”

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