Close Bros Regulatory News (CBG)

The board of directors of Close Brothers Group plc ("Close Brothers" or the "Company") is pleased to announce the appointment of Mark Pain as an independent non-executive director with effect from 1 January 2021.

On joining the board, Mark will become a member of the board's Nomination & Governance and Risk Committees, and will also become the Company's Senior Independent Director. At the same time, and consistent with the Company's other independent non-executive directors, he will also become a director of the Company's Banking subsidiary, Close Brothers Limited.

Mark Pain has more than 30 years' executive and non-executive experience in financial services, including in retail banking and insurance. He has strong finance, risk management and commercial credentials, having held board positions at Barratt Developments plc, where he was Group Finance Director, and Abbey National Group, where he was Group Finance Director, Chief Executive Officer of Abbey National Treasury Services, and Director, Customer Sales.

Mark has broad experience as a non-executive director in both public and private companies. He has previously been a non-executive director of Yorkshire Building Society (where he served as Senior Independent Director), Ladbrokes Coral Group plc, Punch Taverns plc, Spirit Pub Company plc, Johnston Press plc, and Aviva Insurance Limited, among others.

Mark is currently a non-executive director of AXA UK plc, where he serves on the Audit, Investment, Remuneration, Nomination, and Risk Committees. He is Chairman of London Square Limited and Empiric Student Property plc.

Mark takes over as the Company's Senior Independent Director from Oliver Corbett, who has held the position on an interim basis since the retirement of Geoffrey Howe from the board on 19 November 2020. Oliver continues to chair the board's Audit Committee.

Mike Biggs, Chairman of Close Brothers, commented: "I am delighted to be welcoming Mark to the Close Brothers board. He brings very extensive experience of the financial services sector, and as a listed company non-executive director including as a senior independent director. Mark's appointment further strengthens the range of skills and expertise represented on the board, and I look forward to working with him in the years ahead. On behalf of the board, I would like to thank Oliver Corbett for carrying out the role of Senior Independent Director since November."

Mark Pain said: "I am very pleased to be joining the board of Close Brothers. Close Brothers has a long and successful track record under-pinned by its distinctive purpose and culture. I look forward to working with the board and senior management to play a part in the continuing development of the group."

No other information is required to be disclosed pursuant to paragraph 9.6.13R of the Listing Rules in relation to Mark's appointment as a director of Close Brothers.

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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 3,500 people, principally in the UK. Close Brothers Group plc is listed on the London Stock Exchange and is a member of the FTSE 250.