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Vanquis Banking Group PLC on Friday said Chair Patrick Snowball will step down later this year.
The Bradford, England-based lender said Snowball will remain as chair until his successor has been named.
Senior Independent Director Andrea Blance will lead the search for the new chair. Snowball also will help facilitate the onboarding of the firm’s new chief executive, Ian McLaughlin, who starts in July, Vanquis said.
‘With a successful strategy in place, the transformation to a specialist banking group complete, and a new CEO appointed, I am very confident in the group’s future and feel now is the right time to hand over the chair’s baton, with this year’s AGM being my last,’ Snowball said.
Vanquis is a specialist banking group that ‘helps people who are not well served by traditional lenders to borrow responsibly,’ Blance said.
Shares were down 0.4% at 229.00 pence each on Friday morning in London.
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