Hoist Finance UK has appointed Sam Joshi as its new Commercial Director as part of its transformation into a revitalised business focused exclusively on acquiring consumer debt.
This strategic hire is a key step in Hoist Finance UK’s renewed mission to become the leading buyer of consumer debt portfolios across the UK. Joshi will play a pivotal role in driving commercial growth as the company narrows its focus and strengthens ties with banks and lenders across the country.
Sam is a familiar name in the credit industry having worked on both sides of the ‘buying’ and ‘selling’ fence in a career that spans more than 25 years. He started his career with Citigroup as a DCA and Asset Sales Manager and previously worked for Hoist Finance UK after it acquired The Lewis Group in 2014. Most recently he was Client Director at Lowell.
Ed Horton, UK Country Manager at Hoist Finance UK, said he is delighted to welcome Sam back to the team: “His experience, reputation and contacts will be invaluable as we re-affirm our position in buying and managing unsecured, NonPerforming consumer Loans (NPLs),” he explains. “He will also play an integral part in looking at secured Performing Loans and SME debt in the commercial space, partnering with the appropriate service providers and peers with the skills to handle more complex cases.”
Sam is similarly delighted to be back: “The UK is a mature market with plenty of sellers and volume and there is a real opportunity to become a leading player,” he says. “We are both looking to grow our existing partnerships and diversify further, working with others who may bring the additional skills needed to manage different asset classes, and who share our ambitions for the future.”
Sam envisages Hoist Finance in the UK will continue to target the Tier One and Tier Two banks and lenders, but also explore the secondary market, buying debt from other sellers who may wish to divest: “We are very open-minded about creating new partnerships and co-investing in portfolios that gives us the returns we are looking for,” he says.
