John Lewis poaches Experian director to run financial services arm
John Lewis has today hired a senior Experian director to take over as its director of financial services as the department store pushes into the digital retail space.
Amir Goshtai, a 20 year veteran of the credit agency, will spearhead the firm’s focus on its digital portfolio.
This involves pouring £100m into its financial services arm over the next five years, as detailed in John Lewis turnaround plan.
In this, the high street stalwart said it was aiming to make half of its profit from non-retail sectors by the end of the decade.
It is the latest player to attempt to break into the financial services market, a step which few non-established players have been able to pull off with aplomb.
Just last month rival M&S said that it would slim down its banking plans by shutting all its branches and current accounts.
The change of tack comes after John Lewis fell to a £517m loss in 2020. As a result, it has decided to close eight stores, putting 1,465 jobs at risk.
Goshtai told the Retail Gazette: “As a loyal customer of the John Lewis Partnership’s brands, I’m excited to be part of a team that can help it achieve its potential by making a transformative contribution to it’s partners, customers and the community.”