21 December 2015: For immediate release
OneSavings Bank plc
Appointment of Non-Executive Director
The board of OneSavings Bank plc ("OSB"), the specialist lending and retail savings group, announces the appointment of an independent Non-Executive Director following approval by the Prudential Regulation Authority and the Financial Conduct Authority
Eric Anstee will join the board of OSB with immediate effect. His appointment brings the number of directors on the board of OSB to twelve, of whom six are independent, not including the Chairman, who was deemed independent on appointment.
Eric is a qualified accountant with over 40 years experience including senior positions at Ernst and Young, Old Mutual Plc, being the first Chief Executive of the Institute of Chartered Accountants in England and Wales. He is a current member of the Takeover Panel Appeals Board and a former member of the Board of the Financial Reporting Council.
Commenting on the appointment, Mike Fairey, Non-Executive Chairman of OSB said:
"We are extremely pleased to welcome Eric to the Board of OSB. His extensive financial skills and knowledge of the Financial Services industry will be extremely valuable to the continued development of OSB. I very much look forward to working with him."
|OneSavings Bank plc|
|Alastair Pate, Head of Investor Relations||t: 01634 838973|
|Brunswick||t: 020 7404 5959|
|Robin Wrench / Simone Selzer|
Notes to Editors
Eric Anstee - Non Executive Director
Eric joined OneSavings Bank in 2015. He is a senior chartered accountant, having held senior positions in Ernst and Young, Old Mutual Plc and other financial services businesses over the last 40 years. Eric was most recently Executive Chair of CPP Group Plc, and prior to that Chief Executive of the City of London Group. Eric was the first Chief Executive of the Institute of Chartered Accountants for England and Wales and was a member of the Board of the Financial Reporting Council. Eric is still a member of the Takeover Panel Appeals Board and is a Visiting Professor at the London Metropolitan University Business School.
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.