Vanquis Banking Group

Chief Financial Officer Appointment

27 September 2023

Vanquis Banking Group plc (the "Group") is pleased to announce the appointment of Dave Watts as Chief Financial Officer ("CFO"), subject to regulatory approval. Dave will join the Board and start as CFO in November 2023.

Dave Watts is a highly experienced CFO with extensive banking knowledge who has worked for HSBC for nearly 30 years. Dave has held a number of key CFO roles at HSBC, including CFO of HSBC UK Bank plc from 2017 to 2021, where he was instrumental in establishing HSBC's UK non-ring fenced bank. He is currently CFO for HSBC's European business. Prior to joining HSBC, Dave qualified as a Chartered Accountant with KPMG, and is a qualified treasurer.  

Gareth Cronin, who has been acting as interim Chief Financial Officer since August, will continue in his role as Group Chief Risk Officer for the Group.

Ian McLaughlin, Chief Executive Officer, commented:

"Dave was the outstanding candidate in our CFO recruitment search process, and I look forward to working with him. His direct CFO and UK retail banking experience will be a great asset to the Board, the Group, and myself, as we move forward and grow the Group as a leading specialist bank. I would like to thank Gareth Cronin for acting as interim CFO and helping me immensely since I joined the Group as CEO in July."

Dave Watts commented:

"I am delighted to be joining Vanquis Banking Group as CFO. I look forward to working with Ian and the Board, as we continue to grow as a specialist banking group, helping customers who find it hard to access mainstream lenders, and deliver sustainable returns to our shareholders."

The following information is disclosed in accordance with LR 9.6.13:

In accordance with the Listing Rules, there are no other matters requiring disclosure under 9.6.13R of the Listing Rules of the Financial Conduct Authority in relation to the appointment of David Watts.