7/21/2010 10:20:00 AM
O2 appoints James Le Brocq as financial services chief
O2 has appointed James Le Brocq as MD of its financial services division.
Le Brocq will report to O2 board member Tim Sefton, who is responsible for business strategy and new business development.As MD of financial services, Le Brocq will be responsible for O2 Money: Cash Manager and Load & Go, which were launched a year ago.
Both products represent a move by the operator into financial services, an area of growth it has identified as voice revenues decline.
O2 Cash Manager and Load & Go received over 100,000 applications in the first seven days of launch.
Le Brocq brings 25 years of banking experience to the operator. He most recently worked at the turn around team at Northern Rock, as well as holding roles at Alliance & Leicester and the Barclays Group.
Sefton said: ‘The successful launch of O2 Money last year was our first step into financial services beyond device insurance. James, with his formidable track record in financial services, will now lead us into the next phase and deliver our vision for the future.’
Le Brocq said: ‘O2 is the clear market leader in the UK and this is a very exciting opportunity to take the enormous initial success of O2 Money and build O2’s financial services arm into a solid, innovative business that delivers value to O2 and to its customers.’
At the time of the launch of financial services, O2 CEO Ronan Dunne said: ‘O2 has a strong and successful track record of innovation and O2 Money will represent a launch pad into a wide range of mobile banking services.’