Directorate Change

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: [phone]

Stifel Nicolaus Europe Limited (Joint Broker)

Stewart Wallace

Tel: [phone]

Canaccord Genuity Limited (Joint Broker)

David Tyrell

Tel: [phone]

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 £2,278.3 million, customer deposits totalled £2,001.5 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. 

 

END

 

 

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