Co-founder takes sole ownership of finance brokerage

Friday 02 February 2018

Finance broker Garry Falla 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 Mr Falla says he will continue to operate the business on the same principles, acting as a totally independent intermediary between personal and business clients and finance houses.

Falla Ingrouille emerged from RoyScot Guernsey, which was a joint venture with the Royal Bank of Scotland.

"In the case of many of my clients I know them personally and have arranged finance for them on a number of occasions so I can vouch for them when negotiating with the lenders," Mr Falla said. "No two arrangements are the same and no two days are the same which is one of all the things I like about this industry."

The lending sector is also set for further change. The Guernsey Financial Services Commission issued a lending, credit and finance consultation paper in July 2017 and Mr Falla has predicted that some form of licencing regime would be introduced in the next 18 to 24 months, which would provide much overdue greater protection for consumers.