Business processing and software provider Target Group has appointed John Barker as its new CEO, with Peter O’Connor taking on the role of chief operating officer (COO).
Barker, who previously served as Target’s COO, replaces Roger Newman, who has stepped back from the role of CEO.
New COO O’Connor joins Target Group from Capita, where he held a number of senior positions, most recently as managing director of Capita’s mortgage software business. In that role, he was responsible for growth as well as operations, change, IT transformation and risk and assurance.
Before Capita, O’Connor spent more than 10 years at Lloyds, where he held a number of senior roles in innovation and relationship management.
“We have the ambition to double our revenue in three years. To do this, we’ll need a host of expertise leading from the front,” says Barker.
“With these new additions, I’m confident we’ll be able to do just that.”
Target Group is part of Tech Mahindra and specialises in digital transformation, providing business processing services to more than 50 major financial institutions around the world, including DVLA, Barclays and Santander.
It claims its fintech platform manages assets worth more than £25 billion, enabling clients to automate complex critical processing, servicing and administration of loans, as well as investments and insurance. Target also advises on process improvement, due diligence and regulatory compliance.