BrightHouse appoints Thomas Cook’s Mooney as chief executive

He will take up the role formally on July 1, 2019, subject to regulatory approval by the Financial Conduct Authority (FCA).

Prior to his spell at Thomas Cook, Mooney was director of financial services at Virgin Money where he had responsibilities for savings, mortgages and investments.

He replaces Hamish Paton, who confirmed in January he would be leaving the company.

In February, BrightHouse confirmed it will be closing 30 stores across the country, at a cost of 350 jobs. In its most recent results for the six months to September 29, 2018, BrightHouse reported a rise in pre-tax losses to £22.1m from £19.9m in the comparable period.

Meanwhile, the Financial Conduct Authority (FCA) last year announced plans to cap the amount of interest that rent-to-own retailers charge customers.

BrightHouse chairman, Stuart Deane, said: “Anth Mooney was the stand out candidate amongst an impressive list of applicants for the role. He is a financial services expert who has also managed national store networks – not a common set of skills. I, and indeed the entire board, look forward to working with Anth in the months ahead as he builds a business that can delight our customers, inspire our colleagues and return BrightHouse to sustainable growth and profitability.”

Mooney said: “BrightHouse is a business with huge potential. It has undergone significant change over the last two years, but now as a fully FCA regulated business, it has the chance to realise its clear mission, helping the millions of people that other financial services firms choose to ignore. My job is to ensure that we are providing our customers with the most competitive and innovative products and services we possibly can. I look forward to working hard, alongside the great team of people we have at BrightHouse, to serve our customers and build a strong future for our business.”