Nemo, a secured personal loans company, launched for business in February 2005. Under the leadership of managing directors Phil Jones and Sam Marshall, business volumes have exceeded forecasts and the company now has more than 2,500 customers and employs 65 staff in Cardiff.
Phil Jones, joint managing director of Nemo, said: “We have successfully completed phase one for Nemo – the company’s launch and planned move from its start-up offices at Museum Place to its permanent premises at Trafalgar House. We are grateful for the support of stakeholders, including our parent company – Principality Building Society – and also the Welsh Assembly Government which supported the start-up and growth phase.”
The offices of Nemo, a subsidiary company of Principality Building Society, were officially opened by Andrew Davies, Minister for Economic Development and Transport.
He said: “The Welsh Assembly Government is pleased to support this company in their expansion plans. This substantial investment demonstrates the importance of Wales as the business location of choice for a wide range of sectors, particularly the financial services industry. Regional Selective Assistance is proving to be valuable in the continued development of a strong and prosperous economy."
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Sam Marshall, joint managing director of Nemo, added: “We have built a great team during our first six months and over the coming year we anticipate doubling our workforce at Trafalgar House. We now look forward to further enhancing our reputation in the market, which has been built on an innovative product range, competitive pricing and outstanding service levels.”
Nemo’s business to-date has been mainly sourced through finance brokers. In October a direct-to-customer sales approach will be added including a new TV advert with distinctive branding and straightforward language in keeping with Nemo’s strapline – ‘Why complicate things?’.
Phil Jones and Sam Marshall are experienced players in the secured lending marketplace, having been part of the senior management team which established and developed the Cardiff based FirstPlus business from 1997 to 1999. The company is chaired by Peter Griffiths, chief executive of Principality Building Society, who said: “Nemo is proving to be a very successful business for the Principality Group. It is already making a strong contribution to group profits – a clear sign that our diversification strategy is paying dividends for our members.”
