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
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.