SYDNEY, AUSTRALIA: Finexia Financial Group Limited (ASX:FNX) announced the commencement of its planned leadership transition with the appointment of Mr Patrick Bell to the role of Chief Executive effective from 1 November 2023, according to a statement.
Patrick Bell joined Finexia in 2020 through the Company’s acquisition of Creative Capital and since that time has led the private credit division and been instrumental in the transformation of the Company to a private credit specialist. He has played a pivotal role in bringing to life the Company’s two major strategic offerings, namely, the Finexia Childcare Income Fund and the Stay Company Income Fund.
Mr Bell has held numerous senior positions as a corporate banking executive within large banking organisations in Australia and offshore. He brings to the role a strong commercial acumen, commitment, and a passion to succeed. His deep understanding of all elements of credit transactions including origination, analysis and execution will be invaluable as Finexia embarks on the next leg of its growth as a private credit player.
The transition is occurring at a time when the Company is very well positioned, having delivered successive periods of net profit, a maiden dividend to its shareholders and recently secured a sizeable source of funding to accelerate the growth of the Finexia Childcare Income Fund.
Commenting on the appointment, Mr Bell stated “I am extremely excited to be leading Finexia into the next phase of growth and building on what we have achieved to date. I look forward to working closely with our extremely talented and committed team to deliver on our strategic goals and vision.”
The current CEO, Neil Sheather, who has been with the Company since 2014, will assume the role of Chairman. Mr Sheather will continue to support Mr Bell and the executive team, with a more outward approach and emphasis on securing additional funding for the Company’s Private Credit activities along with a strong focus on crystalizing real value for Finexia’s shareholders.
Mr Sheather stated, “Now that Finexia is well down the path with its strategic transformation to a private credit specialist, the timing is perfect for Pat to take the reins and drive the business forward. He has a wealth of experience as a banker and lender, and it makes sense that he assumes leadership and the responsibility for executing the Group’s strategy. I am confident Pat is the right person for this role, and I wish him every success.”
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