15 May 2017
OneSavings Bank plc
(the 'Company')
OneSavings Bank ("OSB") announces the resignation of Nathan Moss, Non-Executive Director
OneSavings Bank announces today that after three years as a Non-Executive Director of the Company, Mr Nathan Moss has tendered his resignation from the Board, effective 31 May 2017. Nathan joined the Board in May 2014 and is a member of the Audit, Remuneration, and Nomination and Governance Committees.
OSB Chief Executive, Andy Golding said: "I would like to thank Nathan for the valuable and constructive contribution he has made to the success of OneSavings Bank. Nathan joined the Board prior to our IPO and has helped the Bank grow and establish itself as a FTSE250 company. Nathan will be missed and I wish him well in the future."
Nathan Moss said: "I have enjoyed being part of the OneSavings Bank success story and wish the Board and Management the very best in continuing to build on the success to date."
Enquiries:
OneSavings Bank plc
Alastair Pate t: 01634 838 973
Brunswick Group
Robin Wrench / Simone Selzer t: 020 7404 5959
Notes
For the purposes of section 430 (2B) of the Companies Act 2006, Nathan will receive his pro-rata entitlement to Non-Executive Director fees for the month of May 2017. No payment for loss of office will be made to him.
About OneSavings Bank plc
OneSavings Bank plc ('OSB') began trading as a bank on 1 February 2011 and was admitted to the main market of the London Stock Exchange in June 2014 (OSB.L). OSB joined the FTSE 250 index in June 2015. 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 primarily targets underserved market sub-sectors that offer high growth potential and attractive risk-adjusted returns in which it can take a leading position and where it has established expertise, platforms and capabilities. These include private rented sector Buy-to-Let, commercial and semi-commercial mortgages, residential development finance, bespoke and specialist residential lending and secured funding lines. OSB originates organically through specialist brokers and independent financial advisers. It is differentiated through its use of high skilled, bespoke underwriting and efficient operating model.
OSB is predominantly funded by retail savings originated through the long established Kent Reliance name, which includes online and postal channels, as well as a network of branches in the South East of England. Diversification of funding is currently provided by access to a securitisation programme; and the Funding for Lending Scheme and Term Funding Scheme, which OSB joined in 2014 and 2016, respectively.