Funding Circle Holdings PLC Directorate Change (9327A)

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RNS Number : 9327A

Funding Circle Holdings PLC

27 January 2020

27 January 2020

THIS ANNOUNCEMENT INCLUDES INSIDE INFORMATION AS DEFINED IN ARTICLE 7 OF THE MARKET ABUSE REGULATION NO. 596/2014

Oliver White to succeed Sean Glithero as Chief Financial Officer

Funding Circle Holdings plc ("Funding Circle") today announces that Sean Glithero has informed the board of his intention to step down from his role as Chief Financial Officer and from the Board. Sean will be succeeded by Oliver White, who will join from Vanquis Bank where he is currently Chief Financial Officer. Oliver was formerly Chief Financial Officer at Barclaycard, where he managed a global business with combined assets of GBP40bn, GBP5bn of revenues and GBP1.6bn of profits.

Sean will step down from his position and from the Board later this year, providing sufficient time for an orderly transition.

Samir Desai, CEO and Founder said:

"On behalf of all at Funding Circle, I would like to thank Sean for his significant contribution since joining us in 2017. He has been an integral member of the team and someone I have always enjoyed working alongside. We wish him all the best for the future."

"In Oliver, we have the right successor to help support us in the next phase of our journey. Oliver has a proven track record and deep understanding of growing an international loan provider and I look forward to him joining."

Sean Glithero, CFO said:

"It has been an enormous privilege to have worked alongside so many talented people here at Funding Circle. I am leaving to take a break and I continue to remain a strong supporter of Funding Circle and its mission."

Oliver White said:

"I'm looking forward to joining the Funding Circle team. SME lending is a substantial market and has been hugely underserved for years. The team at Funding Circle have shown over the last decade there is an alternative and better way to help SMEs access the finance they need to run their businesses."

ENDS

Oliver White biography

Oliver has spent the majority of his 30 years' experience working in financial services, payments and lending. Oliver spent c.15 years at Barclays Group and during this time he was Chief Financial Officer at Barclaycard, a global business with GBP40bn of assets, GBP5bn of revenues and GBP1.6bn of profits. In addition, he held finance and business leadership roles both in Barclaycard (in both their consumer and B2B franchises) and in the wider Barclays group, including FD for the bank's global operations and technology and CFO of the bank's Service Company.

Prior to Barclays, Oliver spent 3 years at the credit card specialist, Capital One. Most recently Oliver has been Chief Financial Officer at Vanquis Bank, which is a leading specialist credit card provider serving its 1.8m customers in the U.K.

There are no additional matters that would require disclosure under LR9.6.13R (1) to (6) in respect of Oliver White.

Media Enquiries:

Funding Circle

David de Koning - Director of Investor Relations and Communications (0203 927 3893)

Headland Consultancy

Mike Smith / Stephen Malthouse (020 3805 4822)

About Funding Circle:

Funding Circle (LSE: FCH) is a global SME loans platform, connecting SMEs who want to borrow with investors who want to lend in the UK, US, Germany and the Netherlands. Since launching in 2010, investors across Funding Circle's geographies - including retail investors, banks, asset management companies, insurance companies, government-backed entities and funds - have lent more than GBP8 billion to 77,000 businesses globally.

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January 27, 2020 02:00 ET (07:00 GMT)