TIDMCIN
RNS Number : 0204P
City of London Group PLC
15 February 2021
15 February 2021
CITY OF LONDON GROUP PLC
("COLG" or the "Company")
Appointment of Independent Non-Executive Directors
City of London Group plc (AIM: CIN), the parent company of
Recognise Bank, is pleased to announce that Philip Jenks, Richard
Gabbertas, Louise McCarthy and Moorad Choudhry (the "New
Directors") have been appointed as Independent Non-Executive
Directors of the Company with immediate effect. The New Directors
are all Independent Non-Executive Directors of Recognise Bank
Limited and have been added to strengthen the Board's banking
expertise.
Commenting on the four appointments, Colin Wagman, Chairman of
COLG, said: "We are delighted to welcome Philip, Richard, Louise
and Moorad to the board of COLG, their breadth and depth of
experience will be invaluable to the Company as we progress into
our next phase of growth.
"We are immensely proud to be able to attract this calibre of
expertise to our board and it is a testament to our ongoing
strategy and business model as a challenger in the SME banking
market that we are able to do so."
Philip Jenks has had a long and successful career in banking.
Before joining Recognise in 2019, he was first an independent
Non-Executive Director and then Chairman at Charter Court FS Group
and was closely involved in a successful banking licence
application. After obtaining banking permissions in 2015 Philip was
involved in the launch of Charter Savings followed by a successful
IPO in October 2017. Philip's experience also includes being a
Non-Executive Director of Leeds Building Society between 2011 and
2020 and in 2020 he became Chair of Auden Group Ltd, a 'for profit'
Social Enterprise intent on changing the face of UK consumer
finance.
Richard Gabbertas joined KPMG in in 1980 and was a partner from
1995. Until his recent retirement, he led KPMG's Regional Financial
Services Practice providing audit and advisory services to a range
of household names in the sector from established banks and
building societies to new entrants. He has extensive knowledge of
financial services and a deep understanding of banking
regulation.
Louise McCarthy is a highly qualified CIO, CFO and business
change leader with over 35 years' experience in large private and
public sector organisations, embracing complex technology and
digital transformation strategies. In recent years, Louise has been
IT Transformational / Change Director at HM Revenue & Customs
followed by contractor roles as Transformational Director at Aviva
, and Specsavers, then CIO Digital Transformation at the European
Bank for Reconstruction and Development. Latterly, Louise was
contracted to HSBC as COO, Global Group Digital Transformation and
was a '2017 CIO Women in IT' finalist, Nominated Leading UK Female
CIOs for the last five years and a speaker on Digital
Transformation. Currently Louise is a senior advisor in digital
practice at Bain and Co.
Moorad Choudhry was a former CEO of Habib Bank and has extensive
experience in managing businesses across wholesale, commercial and
retail banking lines. He has a proven track record in delivering
treasury P&L at a number of the banks he's worked at and is a
respected industry commentator on balance sheet risk management,
capital management and risk governance infrastructure. His
experience extends to managing large and complex banking group
balance sheet structures from balance sheet risk, ALM, liquidity,
capital and interest rate risk.
Further details in respect of the New Directors, as required
pursuant to Rule 17 and Schedule Two paragraph (g) of the AIM Rules
for Companies, are as set out below.
Additional Information
During the last five years immediately preceding the date of
this announcement, Philip Jenks, who is 70 years old, held the
following directorships:
Current Past
Recognise Bank Limited Leeds Building Society
Auden Group Ltd Broadlands Finance Limited
Charter Court Financial Services
Limited
Charter Court Financial Services
Group Plc
Exact Mortgage Experts Limited
Charter Mortgages Limited
Phil Jenks Consultancy Limited
----------------------------------
During the last five years immediately preceding the date of
this announcement, Richard Gabbertas, who is 61 years old, held the
following directorships:
Current Past
Recognise Bank Limited n/a
Arbuthnot Latham & Co., Limited
Hadwin Investments Limited
-----
And the following partnership interests:
Past
KPMG LLP
During the last five years immediately preceding the date of
this announcement, Louise McCarthy, who is 55 years old, held the
following directorships:
Current Past
Recognise Bank Limited n/a
Louise McCarthy Associates
Limited
-----
During the last five years immediately preceding the date of
this announcement, Moorad Choudhry, who is 55 years old, held the
following directorships:
Current Past
Recognise Bank Limited Moorad Choudhry Financial Limited
The Loughborough Building Society Ghana International Bank Public
Limited Company
City of London Capital Limited
MYBNK
Habib Bank Zurich Plc
BTRM Limited
----------------------------------
There is no further information to be disclosed pursuant to
Schedule Two Part (g) of the AIM Rules for Companies.
For further information, please contact:
City of London Group plc
Michael Goldstein (CEO)
Ben Peters (Director of
IR) +44 (0)20 3988 6500
Peel Hunt LLP (Nominated
Adviser)
James Britton
Rishi Shah +44 (0)20 7418 8900
For media enquiries, please heather.armstrong@tavistock.co.uk
contact: / 07929-116860
Heather Armstrong Or email colg@tavistock.co.uk
Tim Pearson
About City of London Group
City of London Group (AIM: CIN), is a forward-thinking
organisation focused on serving the UK SME market, predominantly
focused on lending to the SME market through its subsidiary,
Recognise Bank.
In 2020, the Company raised GBP27 million to launch Recognise
Bank which received AwR in November. The Board and leadership team
have extensive experience in the financial services arena and
expect to receive full authorisation for Recognise later in
2021.
For more information please visit:
https://www.cityoflondongroup.com/
About Recognise Bank Limited
Recognise Bank was formed to provide financial services to the
UK S mall and Medium Enterprises sector and the retail and business
savings markets. It will target an underserved but growing SME
segment offering a relationship-led, digitally enabled
proposition.
The bank's efficient technology-driven operating base, partners
with leading fintech platforms to create a market leading SME
service using the best-in-class technology. Recognise has a strong
independent Board and an executive team with over 280 years'
experience of banking. In five years', time it aims to reach 54,000
depositors and 5,100 borrowers. Recognise is a subsidiary of the
City of London Group.
Click here for further information on Recognise. Follow us on
our LinkedIn by clicking here .
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