Appointment of Chairman

RNS Number : 7635Y

Permanent TSB Group Holdings PLC

07 March 2017

 

Statement by Permanent TSB Group Holdings plc

Headline: Announcement of Chairman-elect

7th March 2017. Permanent TSB Group Holdings plc confirms the appointment of Mr. Robert Elliott as the next Chairman of the Group with effect from 31 March 2017. Mr Elliott will succeed Mr. Alan Cook, who, as previously announced, retires from the Board at the end of March, on completion of his six-year term as Chairman.

Mr. Elliott retired recently as Chairman and Senior Partner Linklaters LLP, one of the largest law firms in the world. Mr. Elliott continues to work with Linklaters part-time as Chairman Emeritus and Partner Consultant. Before becoming Chairman of the firm, Mr. Elliott held the position of Global Head of Banking. In this role, Mr. Elliott was responsible for approximately 65 partners in 22 countries around the world and, advised on major UK and international banking and restructuring projects including:

·          Administration of Enron Europe (2001)

·          Acting for the investor group in a $4bn strategic investment in Bank of China (2005)

·          £12bn rights issue for Royal Bank of Scotland (2008)

·          £45bn recapitalisation of Royal Bank of Scotland and asset protection scheme (2009)

Speaking today, Jeremy Masding, Group Chief Executive of Permanent TSB, said that the Group was delighted that Mr. Elliott would be the next Chairman; "Robert is one of the outstanding lawyers of his generation and has an exceptional expertise in banking. He is also an outstanding businessman and has overseen Linklaters LLP with great success over many years. We are delighted that he will be joining the Group as Chairman and we look forward to his leadership over the coming months and years."

Mr. Elliott said that he was looking forward to joining the Group; "Permanent TSB has done a tremendous job of recovering from the financial crisis and is now concentrating strongly on building a best-in-class retail and SME bank. With my colleagues on the Board and the Senior Management Team, I am looking forward to helping lead the Bank through the next phase of its journey and demonstrating that it can play a valuable role as a competitive, customer focused bank to the benefit of all its stakeholders and ultimately its owners."

Ciarán Long                                        

Group Secretary

Contact Information:

Investors: Rajesh Manirajan Head of Investor Relations [e-mail] [phone]

Media: Ray Gordon Gordon MRM [e-mail]            [phone]

 

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