OSB Osb Group Plc

 
TIDMOSB 
 
 
   LEI: 213800WTQKOQI8ELD692 
 
   OneSavings Bank plc 
 
   (the 'Company') 
 
   Board Changes 
 
   OneSavings Bank ('OSB') announces appointment of Sarah Hedger as 
Non-Executive Director 
 
   OneSavings Bank today announces the appointment of Sarah Hedger as a 
Non-Executive Director, with effect from 1 February 2019. 
 
   Sarah Hedger has significant experience in financial services. She held 
leadership positions at General Electric for twelve years to March 2017 
in its Corporate, Aviation and Capital business development teams, 
leaving General Electric as Leader of Business Development and M&A for 
its global GE Capital division. From 2011 to 2014, Sarah served as a 
non-executive director of GE Money Bank AB, GE Capital's Nordic consumer 
finance bank, prior to its sale to Santander Group, as well as a 
director of GE Capital EMEA Services Limited from 2011 to 2017. Before 
General Electric, she worked at Lazard & Co., Limited for 11 years, 
leaving as Director, Corporate Finance and spent five years as an 
auditor at PricewaterhouseCoopers. Sarah holds a Masters in Electrical & 
Electronic Engineering and Business Studies from Imperial College, 
London University and is a qualified chartered accountant. Sarah is an 
independent non-executive director of Balta Group NV, a Belgian company 
listed on Euronext. 
 
   Sarah Hedger said, "I am delighted to be joining the Board of OneSavings 
Bank. I look forward to working with the Company to build on its strong 
performance and capitalise on the exciting opportunities that lie 
ahead". 
 
   David Weymouth, Chairman said,   "We are delighted that Sarah will be 
joining the Board and I, along with the rest of the Board and the 
executive team, look forward to working with her as OneSavings Bank 
continues to build on its strong position in its chosen markets". 
 
   For and on behalf of 
 
   OneSavings Bank plc 
 
   Jason Elphick 
 
   Group General Counsel and Company Secretary 
 
   Media enquiries: 
 
   OneSavings Bank plc 
 
   Alastair Pate t: 01634 838 973 
 
   Brunswick Group 
 
   Robin Wrench / Simone Selzer t: 020 7404 5959 
 
   This announcement contains inside information 
 
   Supplementary information: 
 
   There are no matters relating to the appointment of Sarah Hedger that 
need to be disclosed pursuant to Listing Rule 9.6.13(2) to (6) of the 
Listing Rules of the Financial Conduct Authority. 
 
   The Directors have determined that upon the appointment Sarah Hedger 
will be independent.  In making their determination, the Directors 
concluded that there are no other relationships or circumstances which 
are likely to affect her judgment and that any relationships or 
circumstances which could appear to do so are not considered to be 
material. 
 
   The appointment is for an initial term of three years and subject to a 
three months' notice period on either side.  The anticipated time 
commitment is two and a half days per month, although this may be 
greater to begin with and at times of heightened corporate activity. 
The appointment will be subject to Sarah's election and subsequent 
annual re-election by OneSavings Bank plc shareholders. 
 
   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 Term Funding Scheme. 
 
   This announcement is distributed by West Corporation on behalf of West 
Corporation clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: OneSavings Bank plc via Globenewswire 
 
 
  http://www.osb.co.uk/ 
 

(END) Dow Jones Newswires

January 21, 2019 09:45 ET (14:45 GMT)

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