OSB GROUP PLC - Directorate change

OSB GROUP PLC

Board Changes

OSB GROUP PLC announces the intended retirement of April Talintyre as Executive Director and Chief Financial Officer

OSB GROUP PLC ("OSB” or the "Group”) today announces that, after more than 11 years with the business, April Talintyre has advised the Board of her intention to retire as Chief Financial Officer and as a Director. The process to appoint her successor, considering both internal and external candidates, will now commence and April will remain in her role until a date to be confirmed to support the transition.

April joined OSB in May 2012 and was appointed to the OSB Board in June 2012. April was previously an Executive Director in the Rothesay Life pensions insurance business of Goldman Sachs and worked for Goldman Sachs International for over 16 years, including as an Executive Director in the Controllers Division in London and New York. April began her career at KPMG LLP in the general audit department. April is a member of the Institute of Chartered Accountants in England and Wales.

Andy Golding, Chief Executive of OSB, said: "April has been instrumental in shaping and delivering OSB’s strategy over the last 11 years, helping steward OSB through Private Equity ownership into a successful FTSE 250 listed business, as well as playing a key role in the Group’s merger with Charter Court Financial Services in 2019. She has been an excellent and trusted support to me through the years, helping to build one of the UK’s leading specialist lenders. I wish her well for her retirement.”

David Weymouth, Chairman of OSB, said: "I and the Board of OSB would like to sincerely thank April for her exceptional contribution and commitment to the business and I wish her all the best for her retirement.”

April Talintyre, Chief Financial Officer of OSB, said: "It was not an easy decision to retire from OSB after working with a fantastic group of people for so long. However, I know I am leaving the Group in a strong position and in safe hands. I would like to extend my thanks to Andy, the Executive Committee, the Board and all of my other colleagues for their hard work, dedication and support throughout my tenure, and I wish them and OSB all the best for the future.”

This announcement includes inside information for the purposes of the UK version of Article 7 of the Market Abuse Regulation (EU No. 596/2014) as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2019.

Note

Further announcements regarding April’s leaving date and the appointment of her successor will be made in due course, and a statement concerning particulars of remuneration payments in accordance with section 430(2B) of the Companies Act 2006 will be released.

The person responsible for arranging the release of this announcement on behalf of OSB is Jason Elphick, Group General Counsel and Company Secretary. All enquiries should be directed to Investor Relations or Brunswick LLP, contact details below.

Media enquiries:

OSB GROUP PLC
Alastair Pate t: 01634 838 973

Brunswick Group
Robin Wrench / Simone Selzer t: 020 7404 5959

About OSB Group 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. On 4 October 2019, OSB acquired Charter Court Financial Services Group plc (CCFS) and its subsidiary businesses. On 30 November 2020, OSB GROUP PLC became the listed entity and holding company for the OSB Group. The Group provides specialist lending and retail savings and is authorised by the Prudential Regulation Authority, part of the Bank of England, and regulated by the Financial Conduct Authority and Prudential Regulation Authority. The Group reports under two segments, OneSavings Bank and Charter Court Financial Services.

OneSavings Bank (OSB)

OSB primarily targets 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, secured funding lines and asset finance.

OSB originates mortgages organically via specialist brokers and independent financial advisers through its specialist brands including Kent Reliance for Intermediaries and InterBay Commercial. It is differentiated through its use of highly 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 securitisation programmes and the Bank of England’s Term Funding Scheme with additional incentives for SMEs.

Charter Court Financial Services Group (CCFS)

CCFS focuses on providing Buy-to-Let and specialist residential mortgages, mortgage servicing, administration and retail savings products. It operates through its brands: Precise Mortgages and Charter Savings Bank.

It is differentiated through risk management expertise and best-of-breed automated technology and systems, ensuring efficient processing, strong credit and collateral risk control and speed of product development and innovation. These factors have enabled strong balance sheet growth whilst maintaining high credit quality mortgage assets.

CCFS is predominantly funded by retail savings originated through its Charter Savings Bank brand. Diversification of funding is currently provided by securitisation programmes and the Bank of England’s Term Funding Scheme with additional incentives for SMEs.