REG-OneSavings Bank plc : Board changes <Origin Href="QuoteRef">OSBO.L</Origin>

OsbAnnouncement

31/07/2017 17:15

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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