Secure Trust Bank Group (STBG) has announced the appointment of Andrew Phillips as managing director of V12 Retail Finance Limited.
Phillips will report to David McCreadie, CEO of STBG, and will also become a member of the Group Executive Committee. He assumes this role following the retirement of Nick Davies, who served the Group for more than 11 years and stepped down at the end of April 2024.
Phillips served as the commercial director for the company, playing a pivotal role in the V12 Retail Finance leadership team for the last nine years, collaborating with Davies throughout his tenure.
In that role, Phillips oversaw strategic and commercial operations across all retail sectors for V12 Retail Finance. This encompassed both B2B and B2C initiatives.
Notably, he led V12 Retail Finance’s expansion into the business-to-consumer market and the acquisition of AppToPay Limited, expanding the business’s capabV12 ility to offer short-term interest-free credit delivered digitally.
Commenting on his appointment, Phillips said: “I am honoured and excited to step into the role of Managing Director at V12 Retail Finance. It’s a wonderful opportunity to contribute towards driving innovation and growth in the retail finance sector.
“I’m looking forward to working closely with the team to build on our success and further enhance our offerings for both our retail partners and customers. I wish to thank Nick Davies for all his support and leadership over the years and wish him a wonderful retirement.”
In his new role as managing director, Phillips will continue to be responsible for commercial, product, distribution and sales activities as well as having overall responsibility for the business performance of V12 Retail Finance.
McCreadie added: “Andrew’s extensive experience and commercial leadership within V12 Retail Finance made him the ideal candidate for the role of managing director. We are delighted to welcome him to this new position and are confident in his ability to lead the team and continue driving growth and innovation within our Retail Finance division.
“I would also like to thank Nick Davies for his illustrious service to the business. It had always been his ambition to grow V12 Retail Finance into a £1 billion lending business, and with that milestone exceeded, and having built a strong team, Nick felt it was the right time for him to hand over the reins.
“He co-founded and built a formidable business and nurtured a team that is now an important market player and significant contributor to the success of STBG. We wish Nick a long and happy retirement.”
