O2 names head of financial services


O2 has appointed James Le Brocq as managing director of its financial services business

O2 UK has drafted in James Le Brocq to lead the overall strategy and operation of the firm’s financial services business, O2 Money.

Le Brocq has more than 25 years of banking experience, most recently as part of the turnaround team at the failed bank Northern Rock.

Previously, he established the start-up prepaid card business at Alliance & Leicester and was responsible for the bank’s international payment business, as well as working at Barclays Group for more than 20 years. Le Brocq took office on July 5.

Last year O2 launched two products under the banner of O2 Money: Cash Manager and Load & Go.

O2 Money is part of the operator’s strategy to become a services provider with mobile at its core, and O2 said it will be a launch pad for a wide range of mobile banking services.

Le Brocq said: “O2 is the clear market leader in the UK and this is a very exciting opportunity to take the enormous initial success of O2 Money and build O2’s financial services arm into a solid, innovative business that delivers value to O2 and to its customers.”

O2 customer director Tim Sefton said: “The successful launch of O2 Money last year was our first step into financial services beyond device insurance. James, with his formidable track record in financial services, will now lead us into the next phase and deliver our vision for the future.”