John Lay has joined sub-prime lender Moneybarn as head of business.

In this newly created position, Lay will be responsible for the optimisation and expansion of existing business acquisition channels and the development of new ones. He will also look at ways to drive further growth.

He has over 20 years’ experience in the financial services industry, mostly in business development, customer acquisition and channel strategy. His most recent role was as commercial and sales director at insurance company Genworth Financial.

Shamus Hodgson, Moneybarn’s commercial director said of John’s appointment "We are delighted to welcome someone of John’s experience and calibre to the team. The Head of Business Development role will be central to continuing the growth of our new business and further strengthening relationships with our distribution partners."

Lay joined Moneybarn after the lender recorded strong financial results for 2015. In the year, it recorded a 43% year-on-year growth in profits to £21.3m.

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