Secure Trust Bank PLC Directorate Change (1126W)
09 Dicembre 2019 - 08:00AM
UK Regulatory
TIDMSTB
RNS Number : 1126W
Secure Trust Bank PLC
09 December 2019
PRESS RELEASE
Secure Trust Bank PLC
LEI: 213800CXIBLC2TMIGI76
9 December 2019
For immediate release
SECURE TRUST BANK PLC
Directorate Change
Secure Trust Bank PLC ('STB' or 'the Group') announces that
after more than eight years in his role Neeraj Kapur, Chief
Financial Officer (CFO), has notified the Board of his decision to
resign and will be leaving the Group to take up the role of Chief
Finance Officer, Provident Financial plc.
The Board will now commence a formal search for a successor,
considering both internal and external candidates. Neeraj will step
down from the Board with immediate effect, but will remain with the
Group as CFO until 31 March 2020, to assist with the preparation of
its FY 2019 Report and Accounts. With effect from 1 January 2020
the Group Treasurer and the Group Financial Controller will report
to the Group CEO until a new CFO is appointed.
Commenting on today's announcement, Paul Lynam, Chief Executive,
said:
"Over the last eight years Neeraj has played a key role in the
successful growth of the Group and he has built an excellent
Finance and Treasury function which will ensure business as usual
during the transition period. I would like to thank Neeraj for his
contribution to the Group. He has been a valued member of the STB
team and I wish him every success for the future."
Commenting on today's announcement, Lord Forsyth, Chairman,
said:
"The Board is grateful for Neeraj's contributions during a
period of significant growth and development for STB. When the time
comes Neeraj will leave with our best wishes as he moves to take on
his new role. The Board will now commence a thorough search for a
successor and looks forward to updating the market in due
course".
Neeraj Kapur, outgoing Group CFO said:
"I have thoroughly enjoyed my eight years at Secure Trust Bank.
I am proud of what we have achieved and am very grateful to my
colleagues within our excellent finance and treasury teams and on
the Board for all of their support over the years. I look forward
to maintaining strong personal relationships with all my STB
colleagues in the coming years and admiring the company's continued
progress from afar."
--ENDS-
Enquiries:
Secure Trust Bank PLC
Paul Lynam, Chief Executive Officer
Tel: 0121 693 9100
Stifel Nicolaus Europe Limited (Joint Broker)
Stewart Wallace
Tel: 020 7710 7600
Canaccord Genuity Limited (Joint Broker)
David Tyrell
Tel: 020 7523 8000
About the Company:
Secure Trust Bank is an established, well--funded and
capitalised UK retail bank with a 67 year trading track record.
Secure Trust Bank operates principally from its head office in
Solihull, West Midlands, and had 956 employees (full-- time
equivalent) as at 30 June 2019. The Group's diversified lending
portfolio currently focuses on two sectors:
(i) Business Finance through its Real Estate Finance, Asset
Finance and Commercial Finance divisions,
(ii) Consumer Finance through its Motor Finance, Retail Finance,
Debt Management and Consumer Mortgages divisions
As at 30 June 2019 the Group's loans and advances to customers
totalled GBP2,278.3 million, customer deposits totalled GBP2,001.5
million and the Group's total customer base was well over 1.4
million.
Secure Trust Bank PLC is authorised by the Prudential Regulation
Authority and regulated by the Financial Conduct Authority and the
Prudential Regulation Authority.
Secure Trust Bank, PLC, One Arleston Way, Solihull, B90 4LH.
Regulatory Notes
Remuneration arrangements for Neeraj Kapur
Neeraj Kapur will be treated in accordance with the STB's
approved Directors' Remuneration Policy. Full details will be
disclosed on the STB website in due course in compliance with
Section 430(2B) of the Companies Act 2006 and in the Directors'
Remuneration Report within the Company's Annual Report and Accounts
for the year ended 31 December 2019, and subsequent years, as
appropriate.
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END
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