Bibby Financial Services (BFS) has hired Jonathon Preen as global head of innovation.

He replaces Bryan Phillips, who moved to Coverly, an SME insurance firm supported by BFS, last year.

In his new role, Preen will be assessing new global markets and product sets for BFS to help support SMEs. He will also be developing new partnerships and business models to “help BFS leverage routes into new markets”, the company says in a statement.

Prior to joining BFS, Preen worked at HomeServe, where he served as a senior manager for new product development and innovation. There he led HomeServe’s efforts to develop new subscription models through internet of things technology and also worked with companies such as Google and Honeywell to create innovative solutions for homeowners. Preen previously worked in the mortgage product division of HSBC.

Speaking of his appointment, Preen says the role “presents a host of opportunities to further enhance BFS’s offering”, adding that he will look to introduce new technologies to the industry.