Sainsbury(J) PLC J Sainsbury plc Management Update (7425B)
11 Junio 2019 - 1:00AM
UK Regulatory
TIDMSBRY
RNS Number : 7425B
Sainsbury(J) PLC
11 June 2019
11 June 2019
J SAINSBURY PLC MANAGEMENT UPDATE
J Sainsbury plc ('Sainsbury's') has appointed Jim Brown as Chief
Executive Officer ('CEO') of Sainsbury's Bank, subject to
regulatory approval.
Jim will join as CEO Designate on 19(th) June and will work with
Peter Griffiths for a short period of handover.
Jim worked for Royal Bank of Scotland PLC ('RBS') from 2015-2017
as Chief Executive of Williams and Glyn; was Chief Executive of
Ulster Bank Group from 2011-2015; and Chief Executive of Retail and
Commercial Markets, Asia for RBS Asia from 2005-2011.
Mike Coupe, CEO of Sainsbury's, said:
"Jim has a wealth of experience and a strong track record of
leading banks through significant change, which will help him lead
Sainsbury's Bank through the next stage of its journey. I am
delighted to welcome Jim to the Sainsbury's management team."
Jim Brown said:
"I'm really excited to be joining Sainsbury's, which has a very
strong brand and is well trusted by its customers. The combination
of Sainsbury's, Argos and Nectar, along with Sainsbury's Bank,
provides a real and unique opportunity to offer customers easy
access to digitally-led financial services. I have been impressed
by everyone I have met so far and am very much looking forward to
joining the team."
Sainsbury's Bank increased customers by five per cent to two
million and Argos Financial Services increased customer numbers by
six per cent to two million in the 2018/19 financial year. 74 per
cent of Sainsbury's Bank customers have a Nectar card and benefit
from Nectar points across a range of products. Financial services
operating profits decreased to GBP31 million.
Sainsbury's Bank is focused on improving its digital offer to
help customers access information and manage their finances in real
time.
Enquiries
Investor Relations Media
James Collins Rebecca Reilly
+44 (0) 7801 813 074 +44 (0) 20 7695 7295
Sainsbury's
Sainsbury's commitment to helping customers live well for less
has been at the heart of what we do since 1869. Today that means
making our customers' lives better and easier every day by offering
great quality and service at fair prices across food, clothing,
general merchandise and financial services, whenever and wherever
they want to shop.
As our customers' lives change, so will our business.
Sainsbury's acquired Argos and Habitat on 2 September 2016,
creating one of the UK's leading retailers. We have a growing
online and digital business with fast, convenient delivery
capability and a store network of 600 Sainsbury's supermarkets,
over 800 convenience stores and almost 900 Argos stores in both
stand-alone and supermarket locations. The iconic Habitat furniture
and home furnishings brand is available online and from 16
locations across the UK.
We acquired the Nectar loyalty programme in February 2018,
enabling us to know and reward our customers better.
Our vision is to be the most trusted retailer where people love
to work and shop. We employ 178,000 colleagues who, together with
our strong culture and values, are integral to achieving this
vision and driving our success - now and in the future.
Sainsbury's Bank
Sainsbury's was the first major supermarket to open a bank in
the UK in February 1997. Our range of financial products includes
mortgages, credit cards, savings and loans, as well as travel
money, and car, home, pet, travel and life insurance which we
provide online and by telephone. We offer Sainsbury's shoppers
great deals and rewards for choosing to shop and bank with us.
We have travel money bureaux at various Sainsbury's supermarkets
across the UK and a large ATM estate.
Sainsbury's Bank plc. Registered Office, 33 Holborn, London EC1N
2HT (registered in England and Wales, no 3279730) is authorised by
the Prudential Regulation Authority and regulated by the Financial
Conduct Authority and the Prudential Regulation Authority (register
no. 184514). Sainsbury's Bank plc is covered by the Financial
Services Compensation Scheme (FSCS).
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