John Lewis continues non-retail push with hire of banking veteran Andy Piggott

John Lewis Finance has announced the hire of Andy Piggott as its director of credit and banking.

The exec most recently served as chief product officer at TransUnion UK, and previously held a variety of product leadership roles at Metro Bank, TSB, and Lloyds Banking Group over a 20 year career in the banking sector.

Amir Goshtai, director of John Lewis Finance, said: “We’re delighted that Andy has joined us. He brings a wealth of experience from across the banking sector, as well as huge energy and enthusiasm for growing our business.

“He joins at a really important time to maximise the opportunity to help our customers with their day-to-day and long term financial needs.”

Andy Piggott said: “The trust and reputation of the John Lewis brand, combined with the vision that Amir and the team have for the financial services business provide a strong and enviable foundation from which to build. I’m really looking forward to getting stuck-in and helping take the business to the next level.”

The appointment of a well-known industry figure underlines the John Lewis Partnership’s ambitions to move away from its reliance on retail, with the company expecting 40 per cent of its profits to come from non-retail businesses – such as housing and finance – within a decade.

John Lewis Finance, which offers services ranging from pet, home and car insurance to its Partnership Credit Card, reported revenue growth of 4.3 per cent at the Partnership’s half year results recently. Its home insurance policies are up nearly 20 per cent year-over-year while its credit card grew customer numbers by nine per cent.

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