Doorstep lending chief

SHARES in Provident Financial were on the rise after it announced the appointment of a chief executive.

The troubled doorstep lender, which is attempting to bounce back from a torrid 2017, said that Malcolm Le May, former head of investment banking at UBS in Europe, will take the hot seat immediately. Earlier this month, Provident warned that its consumer arm will book losses due to a poorly executed change of strategy.