February 2, 2018 / 7:12 AM / a year ago

Doorstep lender Provident Financial names new CEO

Feb 2 (Reuters) - Troubled doorstep lender Provident Financial has appointed acting chairman Malcolm Le ‎May as its CEO with immediate effect, the company said on Friday.

Le ‎May, who was appointed to Provident’s board in 2014, fills a position that has been open since August, when a second profit warning in quick succession prompted the departure of CEO Peter Crook and suspension of its dividend.

The British sub-prime lender has been hit by unresolved problems at its door-to-door lending business, with the group’s woes compounded by investigations by Britain’s financial watchdog into two of its units. ($1 = 0.7014 pounds)

Reporting by Noor Zainab Hussain in Bengaluru; Editing by David Goodman

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