ONESAVINGS BANK PLC Onesavings Bank Plc : Board Changes

 
TIDMOSB 
 
 
   LEI: 213800WTQKOQI8ELD692 
 
   OneSavings Bank plc 
 
   (the 'Company') 
 
   Board Changes 
 
   OneSavings Bank ("OSB") announces appointment of David Weymouth as 
Non-Executive Chairman 
 
   OneSavings Bank today announces the appointment of David Weymouth as 
Chairman, with effect from 1 September 2017. David replaces Mike Fairey 
who, as previously stated, retired as Chairman of the Board on 10 May 
2017. David will also Chair the Nomination and Governance Committee. 
 
   Rod Duke, who has acted as interim Non-Executive Chairman will resume 
his previous role as Senior Independent Director from 1 September 2017. 
 
   David has nearly 40 years' experience in financial services. This 
includes roles as Chief Information Officer at Barclays Bank plc and 
Chief Risk Officer at RSA Insurance Group plc where he sat on both 
companies' executive committees. His experience as an executive includes 
a wide range of senior roles in operations, technology, risk and 
leadership. David is Chairman of Mizuho International Plc and his 
current Non-Executive Directorships include Fidelity International 
Holdings (UK) Limited and The Royal London Mutual Insurance Society. He 
will be stepping down from the Board of Bank of Ireland (UK) plc. 
 
   Incoming Chairman, David Weymouth said, "OneSavings Bank is an excellent 
company that has established itself as a leading player in its chosen 
markets.  I look forward to joining the Board and working with the 
Company as it continues to build on the significant and exciting 
opportunities that lie ahead". 
 
   Rod Duke, Interim Chairman said,   "We are delighted that David will be 
joining the board and I, along with the rest of the Board and the 
executive team, look forward to working with him as OneSavings Bank 
continues to build on its strong position in its chosen markets" 
 
   For and on behalf of 
 
   OneSavings Bank plc 
 
   Jason Elphick 
 
   Group General Counsel and Company Secretary 
 
   Media enquiries: 
 
   OneSavings Bank plc 
 
   Alastair Pate t: 01634 838 973 
 
   Brunswick Group 
 
   Robin Wrench / Simone Selzer t: 020 7404 5959 
 
   This announcement contains inside information 
 
   Supplementary information: 
 
   There are no matters relating to the appointment of David Weymouth that 
need to be disclosed pursuant to Listing Rule 9.6.13(2) to (6) of the 
Listing Rules of the Financial Conduct Authority. 
 
   The Directors have determined that upon the appointment David Weymouth 
will be independent.  He will be stepping down from the Board of Bank of 
Ireland (UK) plc. In making their determination, the Directors concluded 
that there are no other relationships or circumstances which are likely 
to affect his judgment and that any relationships or circumstances which 
could appear to do so are not considered to be material. 
 
   The appointment is for an initial term of three years and subject to a 
three months' notice period on either side.  The anticipated time 
commitment is five days per month, although this may be greater to begin 
with and at times of heightened corporate activity.  The appointment 
will be subject to David's election and subsequent annual re-election by 
OneSavings Bank plc shareholders. 
 
   About OneSavings Bank plc 
 
   OneSavings Bank plc ('OSB') began trading as a bank on 1 February 2011 
and was admitted to the main market of the London Stock Exchange in June 
2014 (OSB.L). OSB joined the FTSE 250 index in June 2015. OSB is a 
specialist lending and retail savings group authorised by the Prudential 
Regulation Authority, part of the Bank of England, and regulated by the 
Financial Conduct Authority and Prudential Regulation Authority. 
 
   OSB primarily targets underserved market sub-sectors that offer high 
growth potential and attractive risk-adjusted returns in which it can 
take a leading position and where it has established expertise, 
platforms and capabilities.  These include private rented sector 
Buy-to-Let, commercial and semi-commercial mortgages, residential 
development finance, bespoke and specialist residential lending and 
secured funding lines. OSB originates organically through specialist 
brokers and independent financial advisers.  It is differentiated 
through its use of high skilled, bespoke underwriting and efficient 
operating model. 
 
   OSB is predominantly funded by retail savings originated through the 
long established Kent Reliance name, which includes online and postal 
channels, as well as a network of branches in the South East of England. 
Diversification of funding is currently provided by access to a 
securitisation programme; and the Funding for Lending Scheme and Term 
Funding Scheme, which OSB joined in 2014 and 2016, respectively. 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: OneSavings Bank plc via Globenewswire 
 
 
  http://www.osb.co.uk/ 
 

(END) Dow Jones Newswires

July 31, 2017 12:15 ET (16:15 GMT)

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