The redesigned, recalibrated Credit Strategy magazine has landed this week; with a new editorial focus, a refined design and the first in a series of chief risk officer interviews. Marcel Le Gouais, editor of Credit Strategy, explains why you should pick up a copy
With a new look and feel (literally, we’re using higher quality paper), the publication has a renewed focus.
We’re now shining a spotlight on how strategy and policy is formulated at source within creditors, as well as the impact as this cascades down to conduct in collections and recoveries.
But it’s conference season, you’re busy, so we’ve picked out five highlights to demonstrate why it’s an essential read – and of course, why now is a perfect time to subscribe.
1. There are now an estimated 70,000 ‘orphaned’ debt management plans
This emerged in our cover feature on commercial debt management companies – A Final Cut – in which we investigated how many of these firms can survive a last regulatory purge.
Around 130 of them have either exited or collapsed in the past two years, and our research showed that an estimated 70,000 plans now have no company managing them on behalf of debtors.
We interviewed debt management firms, their trade body DEMSA, the Financial Conduct Authority and free advice providers including StepChange to answer questions around the implications of an implosion. For the full story, see p26.
2. Check out our first CRO interview
In the first of a series of interviews with chief risk officers (CROs) Simon Baum, CRO at new mortgage lender Bluezest, revealed the company’s plans to launch a slick new application process for SME, buy-to-let and residential mortgages.
The former deputy chief credit officer at Santander also outlined Bluezest’s plans for its collections and recoveries function; see p32 for the full interview. Next month, it’s Hugh Fitzpatrick, CRO at Shawbrook Bank.
3. Read an essential debt sale round-up
Europe may be the new frontier in debt purchase, but our new Dispatches section encapsulates the latest news in this market at home and abroad.
This month we reported on RBS’s return to debt sale after a lengthy absence and rounded up all the major debt buyers’ half-year results – see p6.
4. Discover the stock of forbearance debt in the banks’ vaults
In one of our new stats-driven analysis pages, we delved deep into the balance sheets of the major retail banks, following the release of their half-year trading updates.
We found that three of the high street names are sitting on £4.5bn of loans in forbearance schemes. See p10 for the full analysis.
5. Get regulatory updates – from the regulators themselves
Our new regular columnists include the Financial Conduct Authority p8, the Information Commissioner’s Office p23 and the Lending Standards Board p21.
Through such contributors, we’ll be providing exclusive updates on their new areas of scrutiny. Next month, we will feature more new columnists including Dollar Financial and HSBC.
For a limited time only, you can subscribe to receive Credit Strategy through our introductory offers, including three free editions and discount codes for a full subscription. To find out more about these offers, please click here.