OSB Osb Group Plc

 
TIDMOSB 
 
 
   LEI: 213800WTQKOQI8ELD692 
 
   OneSavings Bank plc ("OSB") 
 
   Directorate Changes 
 
   Resignation of Sir Malcolm Williamson 
 
   OneSavings Bank plc, the specialist lending and retail savings bank, 
announces that Sir Malcolm Williamson has informed the OSB board of 
directors (the "OSB Board") that he will step down from his role as 
Non-Executive Chairman and from the OSB Board with immediate effect. 
 
   Sir Malcolm joined Charter Court Financial Services Group plc ("CCFSG") 
as a Non-Executive director in June 2017, becoming Chairman of the CCFSG 
board of directors in August 2017 and led CCFSG through its successful 
initial public offering in October that year. Sir Malcolm became 
Chairman of the OSB Board in October 2019, following the successful 
combination of OSB and CCFSG (the "Combination").  Sir Malcolm worked 
closely with the then Chairman of OSB (David Weymouth) during the 
negotiations that led to the Combination, after which David Weymouth 
assumed the role of Deputy Chairman of the OSB Board and continued to 
work closely with Sir Malcolm as the integration of OSB and CCFSG 
commenced. 
 
   Following Sir Malcolm's retirement, the OSB Board is very pleased to 
announce the appointment of David Weymouth as Chairman of the OSB Board 
and to the Group Nomination and Governance Committee, in each case 
subject to regulatory approval. 
 
   Andy Golding, Chief Executive of OSB, said:  "On behalf of the OSB Board 
and executive team I would like to thank Sir Malcolm for his stewardship 
and guidance of CCFSG and the subsequent combination with OSB. The 
continuity provided by the appointment of David is valuable as we 
execute on the strategy for the OSB Group, as enlarged by the 
Combination with CCFSG." 
 
   Sir Malcolm Williamson said: "I am delighted that the combination of OSB 
and CCFSG has gone well, and feel as I approach my 81(st)  birthday that 
it is a good time to reduce my work load and spend more time with my 
family and on hobbies. I wish the OSB Board and Management Team my best 
wishes for the future" 
 
   Appointment of Rod Duke 
 
   Sir Malcolm is also stepping down from his role as Chairman of Charter 
Court Financial Services Limited ("CCFSL"), the regulated banking entity 
which forms part of the CCFSG sub-group. In order to maintain the 
independence of the board of directors of CCFSL (the "CCFSL Board"), Rod 
Duke has agreed to step down from the OSB Board and will become Chairman 
of the CCFSL Board subject to regulatory approval. 
 
   Resignation of Eric Anstee 
 
   Additionally, OSB announces that after four years as a Non-Executive 
Director, Eric Anstee has tendered his resignation from the OSB Board 
and will step down with immediate effect. Eric joined the OSB Board as a 
Non-Executive Director shortly after the initial public offering of OSB, 
and, as Chair of the Audit Committee from 1 January 2016 until 4 October 
2019, has helped OSB grow and establish itself as a FTSE250 company. 
 
   Andy Golding, Chief Executive of OSB, said: "I would like to thank Eric 
for the valuable contribution he has made to the success of OSB. Eric 
will be missed and I wish him well in the future." 
 
   There are no additional matters that would require disclosure under LR 
9.6.13R. 
 
   Enquiries: 
 
   OneSavings Bank plc 
 
   Alastair Pate                                                                             t: 01634 838 973 
 
 
   Brunswick Group 
 
   Robin Wrench/Simone Selzer                                                      t: 020 7404 5959 
 
 
   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. On 4 October 
2019, OSB acquired Charter Court Financial Services Group plc ("CCFSG") 
and its subsidiary businesses. 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. 
 
   Important disclaimer 
 
   This document should be read in conjunction with the documents 
distributed by OneSavings Bank plc ("OSB") through the Regulatory News 
Service ("RNS"). This document is not audited and contains certain 
forward-looking statements, beliefs or opinions, including statements 
with respect to the business, strategy and plans of OSB and its current 
goals and expectations relating to its future financial condition, 
performance and results. Such forward-looking statements include, 
without limitation, those preceded by, followed by or that include the 
words 'targets', 'believes', 'estimates', 'expects', 'aims', 'intends', 
'will', 'may', 'anticipates', 'projects', 'plans', 'forecasts', 
'outlook', 'likely', 'guidance', 'trends', 'future', 'would', 'could', 
'should' or similar expressions or negatives thereof. Statements that 
are not historical facts, including statements about OSB's, its 
directors' and/or management's beliefs and expectations, are 
forward-looking statements. By their nature, forward-looking statements 
involve risk and uncertainty because they relate to events and depend 
upon circumstances that may or may not occur in the future. Factors that 
could cause actual business, strategy, plans and/or results (including 
but not limited to the payment of dividends) to differ materially from 
the plans, objectives, expectations, estimates and intentions expressed 
in such forward-looking statements made by OSB or on its behalf include, 
but are not limited to: general economic and business conditions in the 
UK and internationally; market related trends and developments; 
fluctuations in exchange rates, stock markets, inflation, deflation, 
interest rates and currencies; policies of the Bank of England, the 
European Central Bank and other G8 central banks; the ability to access 
sufficient sources of capital, liquidity and funding when required; 
changes to OSB's credit ratings; the ability to derive cost savings; 
changing demographic developments, and changing customer behaviour, 
including consumer spending, saving and borrowing habits; changes in 
customer preferences; changes to borrower or counterparty credit 
quality; instability in the global financial markets, including Eurozone 
instability, the potential for countries to exit the European Union (the 
EU) or the Eurozone, and the impact of any sovereign credit rating 
downgrade or other sovereign financial issues; technological changes and 
risks to cyber security; natural and other disasters, adverse weather 
and similar contingencies outside OSB's control; inadequate or failed 
internal or external processes, people and systems; terrorist acts and 
other acts of war or hostility and responses to those acts; geopolitical, 
pandemic or other such events; changes in laws, regulations, taxation, 
accounting standards or practices, including as a result of an exit by 
the UK from the EU; regulatory capital or liquidity requirements and 
similar contingencies outside OSB's control; the policies and actions of 
governmental or regulatory authorities in the UK, the EU or elsewhere 
including the implementation and interpretation of key legislation and 
regulation; the ability to attract and retain senior management and 
other employees; the extent of any future impairment charges or 
write-downs caused by, but not limited to, depressed asset valuations, 
market disruptions and illiquid markets; market relating trends and 
developments; exposure to regulatory scrutiny, legal proceedings, 
regulatory investigations or complaints; changes in competition and 
pricing environments; the inability to hedge certain risks economically; 
the adequacy of loss reserves; the actions of competitors, including 
non-bank financial services and lending companies; and the success of 
OSB in managing the risks of the foregoing. 
 
   Accordingly, no reliance may be placed on any forward-looking statement 
and no representation, warranty or assurance is made that any of these 
statements or forecasts will come to pass or that any forecast results 
will be achieved.  Any forward-looking statements made in this document 
speak only as of the date they are made and it should not be assumed 
that they have been revised or updated in the light of new information 
of future events. Except as required by the Prudential Regulation 
Authority, the Financial Conduct Authority, the London Stock Exchange 
PLC or applicable law, OSB expressly disclaims any obligation or 
undertaking to release publicly any updates or revisions to any 
forward-looking statements contained in this document to reflect any 
change in OSB's expectations with regard thereto or any change in events, 
conditions or circumstances on which any such statement is based. For 
additional information on possible risks to OSB's business, please see 
the "Risk Review" section of the OSB 2018 Annual Report and Accounts. 
Copies of this are available at www.osb.co.uk and on request from OSB. 
 
   Nothing in this document and any subsequent discussion constitutes or 
forms part of a public offer under any applicable law or an offer to 
purchase or sell any securities or financial instruments. Nor does it 
constitute advice or a recommendation with respect to such securities or 
financial instruments, or any invitation or inducement to engage in 
investment activity under section 21 of the Financial Services and 
Markets Act 2000. Past performance cannot be relied on as a guide to 
future performance. Nothing in this document is intended to be, or 
should be construed as, a profit forecast or estimate for any period. 
 
   Liability arising from anything in this document shall be governed by 
English law, and neither the Company nor any of its affiliates, advisors 
or representatives shall have any liability whatsoever (in negligence or 
otherwise) for any loss howsoever arising from any use of this document 
or its contents or otherwise arising in connection with this document. 

Nothing in this document shall exclude any liability under applicable 
laws that cannot be excluded in accordance with such laws. 
 
   Certain figures contained in this document, including financial 
information, may have been subject to rounding adjustments and foreign 
exchange conversions. Accordingly, in certain instances, the sum or 
percentage change of the numbers contained in this document may not 
conform exactly to the total figure given. 
 
 
 
 
 
 

(END) Dow Jones Newswires

February 04, 2020 11:09 ET (16:09 GMT)

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