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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

BOAUGGWUPUPBGMQ

(END) Dow Jones Newswires

December 09, 2019 02:00 ET (07:00 GMT)

Secure Trust Bank (LSE:STB)
Historical Stock Chart
From Feb 2024 to Mar 2024 Click Here for more Secure Trust Bank Charts.
Secure Trust Bank (LSE:STB)
Historical Stock Chart
From Mar 2023 to Mar 2024 Click Here for more Secure Trust Bank Charts.