Close Brothers Group PLC Appointment of Group Chief Executive (5758Q)
22 Junio 2020 - 1:00AM
UK Regulatory
TIDMCBG
RNS Number : 5758Q
Close Brothers Group PLC
22 June 2020
Appointment of Group Chief Executive
-------------------------------------
22 June 2020
The Board of Close Brothers Group plc ("Close Brothers" or "the
group") is pleased to announce that Adrian Sainsbury has been
selected to succeed Preben Prebensen as Chief Executive. Adrian
will take up the new position, and become an Executive Director of
the group, with effect from 21 September 2020. Adrian's appointment
follows an extensive search process undertaken by the Board,
considering both internal and external candidates, following the
announcement in September 2019 of Preben's planned departure.
Adrian has been Managing Director of Close Brothers' Banking
division and a member of the group Executive Committee since
November 2016, having joined Close Brothers in 2013 as Chief
Executive of the Commercial division. He became a director of Close
Brothers Limited, the group's principal Banking subsidiary, in
August 2013. Adrian has previously held executive roles at
Barclays, RBS and Bank of Ireland and was Chief Executive of ANZ
Bank in Europe.
Preben Prebensen will formally step down as Chief Executive and
a member of the Board on 21 September 2020.
Mike Biggs, Chairman, said: "I am delighted to announce the
appointment of Adrian Sainsbury as Chief Executive. His deep
knowledge and experience, strong leadership and exceptional
commercial expertise make him ideally placed to lead the group
through the next stage of its development. Adrian's appointment
provides continuity in the group's leadership team and business
model, ensuring that that we continue delivering for our people,
our customers, and our shareholders in the years to come.
The Board would like to thank Preben Prebensen for his
outstanding leadership and very significant contribution over the
last 11 years. He has overseen the transformation of the group over
this period and leaves it in an excellent position operationally
and financially and with a strong executive team. On behalf of the
Board I wish Preben the very best for the future."
Adrian Sainsbury said: "I am honoured to be appointed Chief
Executive of Close Brothers. Our group has a long and successful
track record built on the experience and expertise of our people,
strong customer relationships, and a prudent approach to managing
our business. I look forward to taking this proven and successful
business model forward in the years to come."
Preben Prebensen said: "I am delighted that Adrian has been
appointed as Close Brothers' next chief executive. We have worked
together for seven years and Adrian's drive, his breadth of
experience and his deep knowledge of our banking businesses have
been very clear throughout that time. I am very pleased to be
leaving the group in such capable hands."
There is no further information which requires disclosure under
Listing Rule 9.6.13.
Enquiries
Investor Relations, Close Brothers
Sophie Gillingham Group plc 020 3857 6574
Company Secretary, Close Brothers
Alex Dunn Group plc 020 3857 6057
07738 346
Andy Donald Maitland 460
Notes
1. Adrian Sainsbury will receive an annual salary of GBP550,000
and a pension allowance at 10% of annual salary, in line with the
contribution levels for all employees. He will initially be
entitled to a bonus award of up to 225% of salary, and an LTIP
award up to 275% of salary. All remuneration arrangements are
consistent with the terms of the Directors' Remuneration Policy
approved by shareholders at the AGM in November 2017.
About Close Brothers
Close Brothers is a leading UK merchant banking group providing
lending, deposit taking, wealth management services and securities
trading. We employ over 3,000 people, principally in the UK. Close
Brothers Group plc is listed on the London Stock Exchange and is a
member of the FTSE 250.
Cautionary Statement
Certain statements included within this announcement may
constitute "forward-looking statements" in respect of the group's
operations, performance, prospects and/or financial condition.
Forward-looking statements are sometimes, but not always,
identified by their use of a date in the future or such words as
"anticipates", "aims", "due", "could", "may", "will", "should",
"expects", "believes", "intends", "plans", "potential", "targets",
"goal" or "estimates". By their nature, forward-looking statements
involve a number of risks, uncertainties and assumptions and actual
results or events may differ materially from those expressed or
implied by those statements. Accordingly, no assurance can be given
that any particular expectation will be met and reliance should not
be placed on any forward-looking statement. Additionally,
forward-looking statements regarding past trends or activities
should not be taken as a representation that such trends or
activities will continue in the future. Except as may be required
by law or regulation, no responsibility or obligation is accepted
to update or revise any forward-looking statement resulting from
new information, future events or otherwise. Nothing in this
announcement should be construed as a profit forecast. This
announcement does not constitute or form part of any offer or
invitation to sell, or any solicitation of any offer to subscribe
for or purchase any shares or other securities in the company or
any of its group members, nor does it constitute a recommendation
regarding the shares or other securities of the company or any of
its group members. Past performance cannot be relied upon as a
guide to future performance and persons needing advice should
consult an independent financial adviser or other professional.
Statements in this announcement reflect the knowledge and
information available at the time of its preparation. Liability
arising from anything in this announcement shall be governed by
English law. Nothing in this announcement shall exclude any
liability under applicable laws that cannot be excluded in
accordance with such laws.
This information is provided by RNS, the news service of the
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contact rns@lseg.com or visit www.rns.com.
END
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