BUZZ-Provident Financial: top of Stoxx on management rejig in troubled unit

(Corrects to show Wolstenholme made chairman of broader co, not broader consumer credit division, in 5th bullet, & to clarify appointment made Tuesday)

** Provident Financial (Other OTC: FPLPF - news) +14% & easily top riser on Stoxx 600 in volume

** Subprime lender replaces managing director of its beleaguered home credit unit, which has been hurt by changes in its business model, dragging down co's overall profitability

** Stock still down c.50% since making its second profit warning on Tuesday, which prompted CEO departure & dividend suspension

** Co says on Friday Chris Gillespie, ex managing director of consumer credit division before 2013 departure, to rejoin as managing director of home credit business

** Appointed Manjit Wolstenholme as chairman to broader company on Tuesday

** 80% of 30-day daily avg vol through in 40 mins of trade on stock, which is also standout FTSE 100 gainer