Article date: 24 November 2004
HPI, the country’s leading independentprovider of vehicle information, has appointed a new managingdirector and finance director.
David Lundholm - previously managing director ofAsserta Holdings Ltd and a former Norwich Union director –becomes managing director of HPI, reporting to Bridget McIntyre,non-executive chairman.
Jonathan Ballin, who is currently managingdirector of national broker Hill House Hammond, will become financedirector, reporting to David. Jonathan has previously held a numberof key finance positions in Norwich Union.
The appointments follow the decision by thecurrent managing director, Simon Walker, and finance director GilesElliott, to leave HPI for personal reasons and to pursue otheropportunities.
Commenting on the new appointments, BridgetMcIntyre, non-executive chairman of HPI and sales and marketingdirector at Norwich Union Insurance, which owns HPI, said:"We’re very sad to lose Simon and Giles from HPI and I wouldlike to thank them for their valued contribution and commitment tothe business over the last few years. However, I’m pleased toannounce that Simon will be staying on in a non-executive role.
"I’m delighted to welcome David andJonathan to the HPI management team. Between them they bring awealth of experience from a range of industries, and I look forwardto working with them in building the HPI brand and furtherdeveloping business for the private car sales market."
Norwich Union acquired HPI from Phoenix EquityPartners for £120m in August 2004. HPI provides vehicle statuschecks for used car purchases in the UK and is the market leaderwith around 60% market share.
David and Jonathan, who start their new roles inDecember 2004, will be based at HPI’s headquarters inSalisbury. All other HPI staff remain unaffected by thesechanges.
Liz Kennett at NorwichUnion press office on 01603 688263
Notes to editors:
Norwich Union Insurance
- Norwich Union is the UK's largest insurer with a market share ofaround 14 per cent
- With a focus on insurance for individuals and small businesses,Norwich Union insures:
- one in five households
- one in seven motor vehicles
- more than 800,000 businesses
- Norwich Union products are available through a variety ofdistribution channels including brokers, corporate partners suchas banks and building societies and Norwich Union Direct.
- Members of the General Insurance Standards Council
- Members of the Aviva group
- Established in 1938, HPI is the UK’s primary source ofvehicle information for motorists and the motor industry. The HPIdatabase - comprising descriptions and histories of all UK roadregistered vehicles and the National Mileage Register, which hasnearly 80 million mileage records - represents the UK’slargest and most authoritative independent vehicle informationsource. HPI’s sales grew by 36% to £22.5 million in the twoyears to March 2004 and pre-tax trading profit for the calendaryear 2004 is estimated to be £10 million.