South Canterbury Finance has appointed four new senior managers, including one from failed finance company Hanover.

Des Hammond, a restructuring specialist with KPMG, was brought in to Hanover Finance to oversee its ill-fated moratorium and subsequent debt for equity deal with Allied Farmers.

South Canterbury chief executive Sandy Maier says the appointment of Mr Hammond and the three others comes after an exhaustive search.

“I really didn’t want to hire [a] large number of people until we could see the light at the end of the tunnel.

"We started the search back in April, and it’s all coming to fruition now, it’s a long process. We have secured some really spectacular individuals, and I think we’ve got a very strong management team."

But he says the four men have a tough job ahead of them.

I think they’ll work well together, they’re fit for the purpose, and they seem to be up for a bit of mission impossible, so that’s good!”

Dean Clark, from Rabobank, chartered accountant Garry Sue and Dunedin City Holdings director Mike Coburn will also join the company.