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Overseas expansion helps drive listed firm’s success, says CEO

Since his return to global financial product provider CPP Group, CEO Jason Walsh has focused on guiding the business through overseas expansion and ensuring that the listed company’s UK division stays acquisitive in niche markets.

After leaving in 2014 to join EY, Walsh returned to CPP Group in 2016 as its global CEO and today continues to drive change and growth from its head office, now in Leeds.

In early 2018, the listed firm, which provides products including payment protection plans and travel insurance, reported an 18% increase with half year revenues growing to £51.3m. Walsh says that similar revenue growth is expected in the group’s 2018 annual results.

The firm’s Indian market is expanding rapidly and Walsh expects that this year it will account for approximately 60% of overall revenues; an increase from the 40% of revenues generated from India last year.

With over 7m customers worldwide, the group also has operations in Turkey and China; and next year plans to combine its several European offices into a European hub, alongside launching a presence in Mexico. Walsh believes that overseas trade offers huge potential for growth, particularly as the UK market is increasingly becoming overcrowded and is reaching saturation point.

Walsh said: “India and China both have a rapidly growing middle class. They are becoming more financially mature and are now purchasing products and services that were previously aspirational. There has been an explosion of goods and the ways in which to finance a product.”

Employing around 580 people across the world as well as creating further jobs through outsourced services, CPP partners with companies across the globe, mainly in the financial services and insurance sectors. Walsh explained that CPP is focused on delivering “long term value” and also to modernising its product offering, particularly as digital accessibility continues to rises and innovation becomes vital in a highly competitive market.