Secure Trust Bank PLC Directorate Change (5465M)
May 12 2020 - 2:00AM
UK Regulatory
TIDMSTB
RNS Number : 5465M
Secure Trust Bank PLC
12 May 2020
PRESS RELEASE
Secure Trust Bank PLC
LEI: 213800CXIBLC2TMIGI76
12 May 2020
For immediate release
SECURE TRUST BANK PLC
Board Change
Appointment of Chief Financial Officer
Secure Trust Bank PLC ("STB" or the "Company") announces that
after a rigorous recruitment process Rachel Lawrence has been
appointed as an executive director and Chief Financial Officer of
the Company, subject to regulatory approval and satisfaction of
certain other conditions. Rachel is expected to commence employment
with the Company on 7th September 2020.
Paul Lynam, CEO, commented:
"Rachel has a robust financial background having worked for over
three decades in diverse business sectors but with a focus on
financial services. She has very relevant recent experience having
worked for a number of so called challenger banks since 2009.
Rachel has been the CFO of AIB Group (UK) PLC since 2016. I welcome
her as a member of my leadership team and look forward to working
with Rachel in the delivery of our strategy as we emerge from the
current challenging period."
Lord Forsyth, Chairman, commented:
"I am delighted that after a rigorous recruitment process we
have been able to attract somebody of Rachel's skills and
experience to join as our new CFO. I expect Rachel to make a strong
contribution to the future success of the group."
Rachel Lawrence, CFO designate, commented:
"I am delighted and excited to be joining STB as CFO. I am
looking forward to working with the Board and the management team
in its continued execution of the Group's successful strategy."
--ENDS-
Enquiries:
Secure Trust Bank PLC
Paul Lynam, Chief Executive Officer
Tel: 0121 693 9100
About the Company:
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.
Notes and other disclosures
1. Remuneration
Full details of Rachel Lawrence's remuneration arrangements,
which are consistent with the current shareholder approved
Directors' Remuneration Policy and the remuneration policy to be
proposed for approval at the 2020 Annual General Meeting , will be
set out in the 2020 Directors' Remuneration Report which will be
published following the end of the current financial year.
The following summarises the agreed remuneration terms for
Rachel:
-- Base salary - GBP400,000 p.a.
-- Pension contribution rate - 5% of base salary (in line with
that provided to the general workforce).
-- Shareholding Guidelines - 100% of base salary within a five
year period from appointment.
-- Variable Remuneration - participation in discretionary bonus
and LTIP schemes in accordance with the
approved and proposed Directors' Remuneration Policy.
-- Other - benefits including private medical health insurance
and car allowance in line with the approved and
proposed Directors' Remuneration Policy.
2. Shareholding information
Rachel Lawrence does not currently have an interest in any
ordinary shares in Secure Trust Bank PLC.
3. Regulatory disclosure
This announcement is made pursuant to LR 9.6.11 of the UK
Listing Authority's Listing Rules.
There is no further information to be disclosed in respect of
Rachel Lawrence under Listing Rule 9.6.13R(2)-(6).
4. Biographical information
Rachel has considerable experience in finance and banking
start-ups gained from a career spanning more than 20 years. She has
held senior finance roles in Metro Bank, Shawbrook and Pearl
Assurance. She joins from AIB Group (UK) plc, where she has held
the position of CFO since 2016. She is a qualified chartered
management accountant.
This information is provided by RNS, the news service of the
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Authority to act as a Primary Information Provider in the United
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contact rns@lseg.com or visit www.rns.com.
END
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