Target Group has announced the appointment of Ian Larkin as chief financial officer (CFO).

He has over 20 years of financial services experience and will also act as a director of a number of the group’s regulated companies, subject to FCA approval.

Originally from Dublin, Larkin has worked in leadership roles across Lloyds Banking Group for eight years, most recently as managing director of Lloyds Commercial Finance, the UK’s largest asset-based lender, and previously as managing director of Lloyds Consumer Banking where he led the end-to-end overhaul of the digital banking proposition and infrastructure across the Group.

Before joining Lloyds he spent three years as CFO at Virgin Money and four years at McKinsey.

Larkin said: “Target Group has always had a strong reputation in the financial services industry and recently it has really started moving up through the gears. In an environment of regulatory change and macroeconomic uncertainty financial services providers are looking to proven outsource partners to play an increasing role in their business model.

“Target has aggressive growth plans and has put an impressive infrastructure in place to achieve those aims. Helping Target help its clients succeed is a major reason I have joined the firm and I look forward to contributing to the company’s next phase of expansion.”

Paddy Byrne, CEO of Target Group, added: “Ian has vast experience of the areas we operate in and is extremely well qualified to serve as Target’s CFO. His leadership experience complements our already strong executive team and will be invaluable as we continue to drive our strategic and financial business transformation.”