Thomas Cook : to review financial services division

Thomas Cook to review financial services division

March 26, 2019

Thomas Cook today announces a review of the structure of Thomas Cook Money to consider how to drive greater efficiencies across the business and intensify management focus on those areas that will deliver highest returns.

Proposals under consideration include aligning the leadership and operations team for Thomas Cook Money more closely with the tour operating business.

In addition, UK Chief of Retail and Money, Anth Mooney, has decided to leave the business. In the last two years, Mooney has rebooted the financial services offering under Thomas Cook Money, delivering innovative products including Lyk, Thomas Cook's new pre-pay travel cards and Roam holiday insurance and integrating them into the retail network.

The review announced today is being headed by Chief of Tour Operating, Will Waggott, who joined Thomas Cook in early March. He will work with the Thomas Cook Money leadership team over the coming weeks to agree a plan for the next phase of development.

Thomas Cook Chief Executive Officer, Peter Fankhauser, said:

'The review of Thomas Cook Money will now consider how we focus our resources in those areas that give us the greatest opportunity to make a difference to customers in our core holiday offering.

'I would like to thank Anth for his contribution over the past two years, integrating our financial services offer with our retail network and providing a platform for future progress.'