Irishman John Hourican has been named chief financial officer at private equity giant CVC Capital, one of the most powerful firms in its industry.
Hourican, a former RBS banker and chief executive of Bank of Cyprus, will join CVC in September from his current job as head of UK consumer credit firm NewDay.
“John is a first-class financial leader, with more than three decades of experience advising and leading international financial institutions through periods of growth,” CVC chief Rob Lucas said in a statement this week. “He is an excellent cultural fit for CVC, with a combination of strategic insight and operational discipline, which will be invaluable as CFO.”
The move puts Hourican close to the top of one of the highest profile private equity firms in the industry. It has invested in a slew of companies around the world but has become best known in recent years for its investments in sport. As well as La Liga, CVC also has stakes in rugby’s Six Nations, United Rugby Championship and England’s Prem Rugby through its Global Sports Group. It also has invested in women’s tennis tour WTA.
“He brings exceptional financial, strategic and operational expertise to the role of CFO, with a proven track record of managing complex global organisations,” CVC chairman Rolly van Rappard said. “His experience and judgment will be invaluable as we continue to grow and evolve the firm.”