NewDay (company)

NewDay, formerly SAV Credit, is a financial services company specializing in providing credit products to consumers in the United Kingdom.

NewDay Limited
TypeLimited company
IndustryFinancial services
FoundedSeptember 2000
Headquarters7 Handyside Street
Kings Cross
London N1C 4DA[1]
Key people
John Hourican (CEO)
ProductsCredit products
Websitewww.newday.co.uk

History

The company was established in 2000.

On 13 May 2013 the company completed the purchase of Santander UK's store card business, including branded cards issued for retailers including Topshop, Dorothy Perkins, House of Fraser and Debenhams.[2] Santander continued to operate the cards business until 1 April 2014, when SAV took full control and was renamed NewDay.[3][4]

In March 2015, it was rumored that NewDay was for sale, valuing the company around $1.49 billion.[5]

In March 2019, John Hourican was named CEO of NewDay, succeeding James Corcoran to the position.[6]

Structure

NewDay is organised into two limited companies: NewDay Ltd and NewDay Cards Ltd. Both are authorised and regulated by the Financial Conduct Authority,[7] and subscribe to the Lending Code.[8]

References
  1. "Company Registration Details". NewDay. Retrieved 21 March 2019.
  2. Steve Slater (20 December 2012). "Santander UK to sell UK store cards portfolio". Reuters. Retrieved 29 April 2013.
  3. "SAV Credit completes acquisition of Santanders Retail Co-Brand Credit Card / Point-Of-Sale Finance Business". SAV Credit. 13 May 2013. Archived from the original on 28 July 2013. Retrieved 28 May 2013.
  4. "NewDay". SAV Credit. 2014. Retrieved 5 February 2014.
  5. Raice, Giles Turner and Shayndi. "NewDay Group Owners Preparing for Sale or IPO". WSJ. Retrieved 2019-08-28.
  6. "NewDay appoints John Hourican as CEO". New Day. Retrieved 2019-08-28.
  7. "Company Registration Details". NewDay. April 2014. Retrieved 18 April 2014.
  8. "Subscribers". Lending Standards Board. Archived from the original on 24 October 2015. Retrieved 5 November 2015.


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