Peterborough insurance giant makes senior appointment as it considers stock exchange flotation
Peterborough insurance giant, the BGL Group, which owns price comparison website comparethemarket.com, has appointed a new chief financial officer.
The company, based in Bakewell Road, Orton Southgate, has just recruited Dominic Platt, the current finance chief of a major European retailer, as its chief financial officer.
Forty-six year old Mr Platt has an impressive track record of working at senior levels within public companies.
His appointment is likely to strengthen BGL’s consideration of proposals to list the company, which has an annual revenue of revenue of £507 million, on the London Stock Exchange.
Mr Platt is currently group finance director and managing director of international businesses at European electrical retailer Darty Plc where he has worked for five years.
Previously, he spent 18 years at Cable and Wireless, which he joined as a graduate trainee and rose to be group financial controller.
He will join BGL Group on March 1.
He has extensive experience in consumer focused public companies operating in a regulated environment, is a Fellow of the Chartered Institute of Management Accountants and a graduate from Cambridge University with an honours degree in classics.
Mr Platt said: “I am delighted to be joining BGL Group at an important time in the group’s development.
“The team has built and continues to grow a range of successful businesses and great brands.
“I am very much looking forward to working with the team and I am hugely excited about the further opportunities at the business.”
Matthew Donaldson, chief executive of the BGL Group, which employs 1,300 people in Peterborough, said: “I am pleased to welcome Dominic to BGL Group.
“He is an ideal candidate for the job, thanks to his significant experience in competitive brand-led environments.
“I am confident that his appointment will allow us to further develop our growth opportunities and to deliver on our strategy.”
A spokeswoman for the BGL said the company was still considering listing on the London Stock Exchange.
The firm confirmed last month that it was thinking about a flotation.
The spokeswoman added: “However, at this point, no decisions have been made and there can be no certainty that any process will be formalised.”
It is understood that if BGL directors decide to go ahead with a listing it is likely to occur in November this year.
An announcement of an intention to float would have to be made about two months earlier.