REG - CAB Payments Hldgs - Directorate Change

Cab Payments HoldingsAnnouncement

10/02/2025 07:00

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RNS Number : 4280W  CAB Payments Holdings PLC  10 February 2025

10 February 2025

 

CAB Payments Holdings plc and its subsidiaries

("CAB", "CAB Payments", the "Group" or the "Company")

 

Directorate Change

 

CAB Payments today announces that Richard Hallett has taken the decision to
step down as Chief Financial Officer (CFO) and Executive Director of the Group
and its subsidiary, Crown Agents Bank Limited.  Richard has been with the
Group for nine years, over which time he has been instrumental in cementing
its position as a market leading provider of FX and cross-border Payments for
hard-to-reach markets.

 

Richard is considered to be a good leaver and the details of his exit
agreement are expected to be disclosed in the Company's 2024 Annual Report. He
leaves with immediate effect, and a search is underway for his replacement. In
the interim, Matthew Talty, currently Group Head of Banking, will temporarily
take over leadership of the finance function until a replacement is found.

 

The Group looks forward to releasing its 2024 results on 13 March 2025.

 

Ann Cairns, Chair of CAB Payments, commented:

"We would like to thank Richard for his commitment and enormous contribution
to the Company's development over the last nine years. He has played a key
role in transitioning the business from private to public ownership; a
tremendous achievement. We wish him the very best for the future."

 

Richard Hallett, commented:

"It has been a privilege to serve as a member of the leadership team at CAB
Payments since its acquisition in 2016, and I am proud of the positive
difference CAB has made in developing parts of the world during this time. I
am confident CAB will continue to progress from the very solid foundations we
have built and I wish every success to the exceptional team of people and
colleagues I leave behind".

 

For further information, please contact:

 

 CAB Payments Holdings plc

 Gaurav Patel, Head of Investor Relations

 ir@cabpayments.com

 www.cabpayments.com (http://www.cabpayments.com)

 FTI Consulting

 (Public Relations Adviser to CAB Payments)

 Edward Bridges                                     +44 (0) 7768 216 607

 Katie Bell                                         +44 (0) 7976 870 961

 cabpayments@fticonsulting.com

 

Notes:

 

1.      Matthew Talty is a Chartered Accountant (PwC), and held senior
finance roles at HBOS, Lloyds Banking Group and the Co-Operative Bank. Since
joining Sainsbury's Bank as Head of Asset-Liability Management and then Head
of Funding, he has been Group Treasurer in PLC's for nearly ten years
including Secure Trust Bank and Vanquis Banking Group (previously Provident
Financial Group). Matthew joined Crown Agents Bank last August as Head of
Banking and in November was appointed onto the Executive Management committee.

 

2.      Details of Richard Hallett's remuneration arrangements will be
published on the Company's website (www.cabpayments.com) as soon as reasonably
practicable pursuant to section 430(2B) of the Companies Act 2006

 

3.      This announcement contains inside information for the purposes of
Article 7 of the Market Abuse Regime (EU) regulation No. 596/2014 as it forms
part of domestic UK law pursuant to the European Union (withdrawal) act
2018. The person responsible for the release of this announcement is Lesley
Martin, Company Secretary.

 

 

About CAB Payments:

 

CAB Payments Holdings plc is the holding company for Crown Agents Bank.
Regulated in the UK, Crown Agents Bank, specialises in FX and cross-border
payments for hard-to-reach markets. Its strength of network and deep expertise
means it can move money into and out of the world's most complex financial
markets. Trusted by a global ecosystem of leading institutions across the
public, private and development sectors, Crown Agents Bank's strength lies in
its network which connects its clients to underserved geographies, giving them
access to 100+ currencies across 700+ currency pairs.

 

The delivery of fast, transparent and efficient transactions moves money where
it's needed. Crown Agents Bank's network offers multiple transaction
solutions, delivered via a single API, digital trading platforms, or through
bespoke approaches developed by its specialist teams.

 

Crown Agents Bank is one of the first banks to achieve B Corporation™
status. The bank was awarded the Gold Sustainability Rating by EcoVadis in
2022, 2023 and 2024, ranked within the top 5% of 100,000 companies assessed
across 160 countries and over 200+ industries.

 

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