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Vanquis Banking Group PLC on Friday said it will promote Non-Executive Director Peter Estlin to chair, subject to regulatory approval.
Estlin became an independent non-executive director of Vaquis in April. He previously was chief financial officer for Barclays PLC, and served as Lord Mayor of the City of London in 2018 to 2019.
Estlin will succeed Patrick Snowball, who will continue in his role as chair until Estlin has regulatory approval.
‘Since I joined in April, the group’s strong social purpose of helping to deliver financial inclusion, and its role as a specialist banking group, has shone through,’ Estlin said.
Senior Independent Director Andrea Blance, who led the search process, said of Estlin: ‘His experience will be valuable to the board, and the group, as we continue to develop as the specialist banking group for customers who find it difficult to access mainstream lenders.’
Shares in Vanquis Banking were up 0.1% at 191.60 pence in London on Friday morning.
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