New Chairman appointed after DirectorBank buyout

A new chairman has been appointed to Directorbank, following the recent 4.3m buyout.

David Wallis, currently chairman of FTSE 250 support services company, Speedy Hire Plc, and Denby Holdings, the UKís market leader in tableware, as well as a non-executive of Grampian Food Group, joins with immediate effect.

A Yorkshire based entrepreneur, Mr Wallis founded his own frozen food chain in the 1970s, selling out to Merchant Retail Group Plc in 1986. He went on to become Group Managing Director of MRG (best known for The Perfume Shop chain) until 1999. Since then his non-executive directorships have included Geest Plc and various venture capital backed businesses such as Robinson Healthcare, Greeting Card Group and ORA Dental Group.

Commenting on the appointment, Directorbank Chief Executive, Elizabeth Jackson, said: ìDavid is a chairman of the highest reputation and integrity and brings a wealth of experience in the two key markets we serve ñ Plc and private equity. He will help drive the ambitious plans we have for the next phase of growth of the business.î

David Wallis said: ìDirectorbank has become a real national success story in just eight years. I believe it has a lot further to go and having known the business and the team for several years I am really excited about being part of it. It has a unique blend of executive recruitment and corporate finance in its model and there is a real sense of timeliness about its offering.î