Finance broker Garry Falla (pictured) has taken over the sole ownership of Falla Ingrouille, the business he co-founded in 2003, following the departure of his business partner Adrian Welch.
With almost 40 years’ experience in the lending sector, Garry will continue to operate the business as an independent intermediary between personal and business clients and finance houses.
Falla Ingrouille was co-founded with Tim Ingrouille, who left the business in 2007, and emerged from RoyScot Guernsey, a joint venture with the Royal Bank of Scotland.
Garry said that in a changing banking environment and with the advent of responsible lending, the business had created its own niche. “No two arrangements are the same and no two days are the same, which is one of the things I like about this industry,” he said.
And the lending sector is set for further change. The Guernsey Financial Services Commission issued a lending, credit and finance consultation paper in July 2017 and he predicts some form of licensing regime will be introduced in the next 18 to 24 months to provide greater protection for consumers.