REG - Secure Trust BankPLC - Directorate Change

Secure Trust BankAnnouncement

25/01/2024 07:00

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RNS Number : 8186A  Secure Trust Bank PLC  25 January 2024

PRESS RELEASE

Secure Trust Bank PLC

LEI: 213800CXIBLC2TMIGI76

25 January 2024

For immediate release

 

 

SECURE TRUST BANK PLC

("STB" or the "Company")

Appointment of Non-Executive Director and Chairman Designate

On 30 March 2023 the Company announced that Lord Forsyth would be retiring as
Chairman and a Non-Executive director at the Annual General Meeting (AGM) in
May 2024.  The Company is pleased to announce the appointment of Jim Brown as
a Non-Executive Director with effect from 31 March 2024 and that he will
succeed Lord Forsyth as Chairman following the conclusion of the AGM, subject
to regulatory approval.  The Board considers Jim Brown to be independent on
appointment.

Jim Brown is a banking professional with many years' experience, gained
through a number of executive positions.  He is currently CEO, Sainsbury's
Bank and a member of the Sainsbury's Group Operating Board and will be
retiring from these roles at the end of March 2024. He is also a Non-Executive
Director on the Board of Just Group plc.

Before this, Jim was the Chief Executive Officer, Future Williams & Glyn
within the RBS Group and prior to this he was CEO, Ulster Bank Group. He held
a number of senior appointments within RBS and ABN AMRO in Asia and earlier in
his career with Citibank and Chase AMP Bank.

Lord Forsyth said "Following a comprehensive recruitment process conducted by
the Nomination Committee and led by the Senior Independent Director, I am
delighted that we have found such an experienced candidate to succeed me as
Chairman. Jim is a banking professional and brings with him a strong track
record in large-scale executive roles."

 

Jim Brown said "I am honoured to be appointed as Chairman of Secure Trust
Bank, subject to regulatory approval. I would like to thank Lord Forsyth for
his contribution over the past 10 years, and I look forward to working with
the Board, David and Rachel and the management team."

David McCreadie, Chief Executive, said: "I am delighted to welcome Jim to STB
and look forward to working with him. I would also like to extend my gratitude
to Lord Forsyth for his leadership and for the major contribution he has made
to the development of our company over the last 10 years."

On joining the Board Jim Brown will become a member of the Remuneration
Committee and a member of the Nomination Committee and will Chair the
Nomination Committee following his appointment as Chairman. There are no
additional matters that would require disclosure in respect of Jim Brown
pursuant to 9.6.13R of the Listing Rules of the UK Financial Conduct
Authority.

At the date of appointment Jim Brown does not hold any legal or beneficial
direct or indirect interest in the ordinary shares or debt securities of the
Company.

 

 

 

 

Enquiries:

Secure Trust Bank PLC

David McCreadie, Chief Executive Officer

Tel: 0121 693 9100

 

Investec Bank plc (Joint Broker)

Bruce Garrow

David Anderson

Maria Gomez de Olea

Tel: +44 (0) 20 7597 5970

 

Shore Capital Stockbrokers (Joint Broker)

Mark Percy / Angus Murphy (Corporate Advisory)

Guy Wiehahn (Corporate Broking)

Tel: +44 (0)20 7408 4090

Camarco

Ed Gascoigne-Pees, Geoffrey Pelham-Lane, Sean Palmer

securetrustbank@camarco.co.uk (mailto:securetrustbank@camarco.co.uk)

Tel: 07591 760844

 

About STB

Secure Trust Bank is an established, well‐funded and capitalised UK retail
bank with a 71 year trading track record. Secure Trust Bank operates
principally from its head office in Solihull, West Midlands, and had 868
employees (full‐ time equivalent) as at 31 December 2023. The Group's
diversified lending portfolio currently focuses on two sectors:

(i)            Business Finance through its Real Estate Finance and
Commercial Finance divisions,

(ii)           Consumer Finance through its Vehicle Finance and
Retail Finance divisions.

 

At 31 December 2023 the Group's loans and advances to customers totalled
£3,315.3 million, customer deposits totalled £2,866.8 million and the
Group's total customer base was over 1 million customers.

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, Yorke House, Arleston Way, Solihull, B90 4LH.

 

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