Andy Piggott/John Lewis
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John Lewis poaches TransUnion CPO Andy Piggott for financial services push
The upmarket UK retailer, owner of the Waitrose and John Lewis brands, has been steadily increasing its push into financial services in recent years
John Lewis Finance has hired Andy Piggott as its new director of credit and banking.
Piggott, who will be responsible for the company’s credit and banking division, has been chief product officer at TransUnion UK for the past two years.
Previous to TransUnion he was director of lending at Metro Bank. He also held roles at TSB, and Lloyds Banking Group.
Piggott’s primary responsibilities are the John Lewis partnership card, its point-of-sale credit (both interest-free and interest-bearing credit), as well as its travel money, and investments push.
John Lewis, the owner of the upmarket supermarket Waitrose and department store John Lewis brands, is an employee-owned legal partnership operating for nearly 100 years in the UK.
“We’re delighted that Andy has joined us. He brings a wealth of experience from across the banking sector, as well as huge energy and enthusiasm for growing our business,” Amir Goshtai, director of John Lewis Finance, said.
“He joins at a really important time to maximise the opportunity to help our customers with their day-to-day and long-term financial needs,” Goshtai added.
The company has been slowly digitalising its business, particularly its department store business and has been building up its existing financial services strategy in recent years.
It launched investment products in 2021 through a partnership with Nutmeg. It also had a partnership HSBC until last year when it shifted its partnership to New Day.
John Lewis said its financial services strategy is growing rapidly with home Insurance policies up nearly 20 per cent in 2023 vs last year, pet insurance policies sold up 30 per cent and its credit card grew customer numbers by 9 per cent with more than £30m in vouchers issued.
“The trust and reputation of the John Lewis brand, combined with the vision that Amir and the team have for the financial services business provide a strong and enviable foundation from which to build. I’m really looking forward to getting stuck in and helping take the business to the next level,” Piggott said.
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