ONE Savings Bank PLC : Directorate change

08.December 2015 at 17:29:03 CET

Date: 8 December 2015

OneSavings Bank plc

Directorate Change

OneSavings Bank plc ("OSB"), the specialist lending and retail savings group, announces that Stephan Wilcke, non-independent Non-Executive Director, will be stepping down from the Board with effect from the 2016 AGM.

Mr Wilcke joined OSB at inception as an independent non-executive director and Chair of the Risk Committee. He moved into the role of Executive Chairman early in 2012, stepping down as Chairman in April 2014 prior to the IPO in order that an Independent Non-Executive Chairman, Mike Fairey could be appointed.

Mr Wilcke has taken the decision to step down from the Board of OSB to pursue his other business interests.

Mr Fairey said: "I would like to thank Stephan for the enormous contribution he has made to the success of OneSavings Bank over the past five years, and wish him well in all his future ventures.'

Mr Wilcke said: "I am proud of what OSB has achieved. Our last set of results demonstrated the great progress that the business has made. The combination of Mike's experience and stewardship with Andy's continued drive and leadership will see OSB go from strength to strength."



OneSavings Bank plc

Alastair Pate, Head of Investor Relations            t: 01634 838973


Robin Wrench / Simone Selzer                            t:  020 7404 5959

About OneSavings Bank plc

OneSavings Bank plc ('OSB') began trading as a bank on 1 February 2011 when the trade and assets of Kent Reliance Building Society ('KRBS') were transferred into the business. OSB is a specialist lending and retail savings group authorised by the Prudential Regulation Authority, part of the Bank of England, and regulated by the Financial Conduct Authority and Prudential Regulation Authority.

OSB focuses on selected sub-sectors of the lending market in which it has established expertise, platforms and capabilities, and where opportunities have been identified for both high returns on a risk-adjusted basis and strong growth. These include Residential Mortgages (comprising first charge, second charge and shared ownership), Buy-to-Let/SME and Personal Loans. OSB originates organically through specialist brokers and independent financial advisors.

OSB is predominantly funded by retail savings originated through the established Kent Reliance franchise, which includes a network of branches in the South East of England, as well as online and postal channels. Diversification of funding is currently provided by a securitisation and OSB joined the Funding for Lending Scheme in early 2014.

About Stephan Wilcke

Mr Wilcke joined OSB at inception as an independent non-executive director and Chair of the Risk Committee. He moved into the role of Executive Chairman early in 2012, stepping back to a non-executive Director position before the IPO in 2014. Mr Wilcke serves as a non-executive Director on the boards of the Jersey Financial Services Commission, EMF Capital Partners and is the Chairman of Amigo Loans. He recently co-founded Rozes Invest, a specialist credit manager focused on digital lenders and peer-to-peer lending.

He served from 2009 to 2011 as Chief Executive of the Asset Protection Agency, an executive arm of HM Treasury. Prior to this, Mr Wilcke advised various central banks on difficult situations created by the credit crunch. He was also a Partner and the Head of European Financial Services at private equity firm Apax Partners. Mr Wilcke started his career at management consultancy Oliver Wyman were he progressed to partner level. He has served previously as Vice Chairman of NLB, Slovenia's biggest bank, and as a Troika approved member of the general council of the Hellenic Financial Stability fund.