HPI, the country’s leading independent provider of vehicle information, has appointed a new managing director and finance director.
HPI, the country’s leading independent provider of vehicle information, has appointed a new managing director and finance director.
David Lundholm - previously managing director of Asserta Holdings Ltd and a former Norwich Union director – becomes managing director of HPI, reporting to Bridget McIntyre, non-executive chairman.
Jonathan Ballin, who is currently managing director of national broker Hill House Hammond, will become finance director, reporting to David. Jonathan has previously held a number of key finance positions in Norwich Union.
The appointments follow the decision by the current managing director, Simon Walker, and finance director Giles Elliott, to leave HPI for personal reasons and to pursue other opportunities.
Commenting on the new appointments, Bridget McIntyre, non-executive chairman of HPI and sales and marketing director at Norwich Union Insurance, which owns HPI, said: "We’re very sad to lose Simon and Giles from HPI and I would like to thank them for their valued contribution and commitment to the business over the last few years. However, I’m pleased to announce that Simon will be staying on in a non-executive role.
"I’m delighted to welcome David and Jonathan to the HPI management team. Between them they bring a wealth of experience from a range of industries, and I look forward to working with them in building the HPI brand and further developing business for the private car sales market."
Norwich Union acquired HPI from Phoenix Equity Partners for Ł120m in August 2004. HPI provides vehicle status checks for used car purchases in the UK and is the market leader with around 60% market share.
David and Jonathan, who start their new roles in December 2004, will be based at HPI’s headquarters in Salisbury. All other HPI staff remain unaffected by these changes.
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Media contact:
Liz Kennett at Norwich Union press office on 01603 688263
Notes to editors:
Norwich Union Insurance
- Norwich Union is the UK's largest insurer with a market share of around 14 per cent
- With a focus on insurance for individuals and small businesses, Norwich Union insures:
- one in five households
- one in seven motor vehicles
- more than 800,000 businesses
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- Norwich Union products are available through a variety of distribution channels including brokers, corporate partners such as banks and building societies and Norwich Union Direct.
- Members of the General Insurance Standards Council
- Members of the Aviva group
About HPI
- Established in 1938, HPI is the UK’s primary source of vehicle information for motorists and the motor industry. The HPI database - comprising descriptions and histories of all UK road registered vehicles and the National Mileage Register, which has nearly 80 million mileage records - represents the UK’s largest and most authoritative independent vehicle information source. HPI’s sales grew by 36% to Ł22.5 million in the two years to March 2004 and pre-tax trading profit for the calendar year 2004 is estimated to be Ł10 million.