Reporting to AND-E group CEO Michael Kainzbauer, Hermon will lead the finance teams across Europe building on its infrastructure to support the firm’s strategic ambitions.
Hermon has worked in the motor insurance sector for more than two decades in a number of finance roles. This includes more than 15 years with Hastings Insurance Group as well as positions at Freedom Services and First Central.
In addition, he was crucial to the Hastings Insurance buyout in 2008 which saw subsequent sales and a London Stock Exchange floatation.
He joined AND-E as a consultant in 2021 and has been involved in designing and implementing a financial structure to support its profitability and growth objectives.
“The AND-E business has achieved a strong growth trajectory over the last few years, both organically and through acquisition”, explained Kainzbauer. “It is now critical that we capitalise on economies of scale while still responding to local market opportunities. I am, therefore, delighted that Jon Hermon has agreed to take up the role of Group Chief Finance Officer. He will help shape and build our finance infrastructure to ensure it is fit for purpose to support our future strategic ambitions.”
Hermon added: “I am incredibly excited to be joining the AND-E Group board at this time to build an agile finance infrastructure that will effectively drive and support our strategic direction and deliver the expected return to our shareholders. The job of finance is to provide the controls and insights for the right business actions, and I am looking forward to building on the systems and processes already implemented to further strengthen our finance infrastructure.
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“There is already a wealth of experience of the AND-E business as well as financial expertise in the local market finance teams that puts us in an exceptionally strong position. I believe, with common processes, tools and ambitions, finance can really support the performance of the AND-E Group.”