25 Jun 2021 07:00
25 June 2021
CITY OF LONDON GROUP PLC
("COLG" or the "Company")
Board Changes
City of London Group Plc (AIM: CIN) is pleased to announce the appointment of Simon Wainwright as Non-executive Director to the Board with immediate effect.
Simon is currently Chair of the Recognise Bank Ltd Risk Committee and is a member of the Nomination Committee.
Simon is MD, Europe, Middle East and Africa at global reinsurer Reinsurance Group of America (RGA). Prior to this role, Simon held several senior positions at HSBC including CEO, HSBC Ireland, Head of Business Banking, UK and COO, Corporate and Structured Finance. He's also a NED of National Counties Building Society.
Philip Jenks, Non-executive Chairman of City of London Group, commented: "We are pleased to welcome Simon to the Board at an exciting time for City of London. We are in the final stages of acquiring a full banking license for Recognise, a journey that Simon has been a part of since he joined the business in February 2019. His experience will prove invaluable as we move into our next phase of growth."
Additional information
The following information is being disclosed pursuant to Rule 17 and paragraph (g) of Schedule 2 of the AIM Rules for Companies.
Simon Wainwright, aged 58, is, or has during the last five years been, a director or partner of the following companies and partnerships:
Current directorships | Previous directorships |
Recognise Bank Limited | RGA RE UK Limited |
RGA UK Services Limited | RGA Capital Limited |
RGA Technology Partners, INC. | RGA Holdings Limited |
National Counties Building Society |
Simon Wainwright has no beneficial interest in the equity securities of City of London Group plc.
Save as disclosed above, there is no further information required to be disclosed in respect of Simon Wainwright pursuant to Schedule Two, paragraph (g) of the AIM Rules for Companies.
For further information, please contact:
City of London Group plc Michael Goldstein (CEO) Ben Peters (Director of IR)
| +44 (0)20 3988 6500
|
Peel Hunt LLP (Nominated Adviser) James Britton Rishi Shah
| +44 (0)20 7418 8900
|
For media enquiries, please contact: Heather Armstrong Tim Pearson | heather.armstrong@tavistock.co.uk / 07929-116860 Or email colg@tavistock.co.uk
|
About City of London Group
City of London Group (AIM: CIN), is a forward-thinking organisation focused on serving the UK SME market, predominantly focused on lending to the SME market through its subsidiary, Recognise Bank.
In 2020, the Company raised £27 million to launch Recognise Bank which received AwR in November. The Board and leadership team have extensive experience in the financial services arena and expect to receive full authorisation for Recognise later in 2021.
For more information please visit: https://www.cityoflondongroup.com/
About Recognise Bank Limited
Recognise Bank was formed to provide financial services to the UK Small and Medium Enterprises sector and the retail and business savings markets. It will target an underserved but growing SME segment offering a relationship-led, digitally enabled proposition.
The bank's efficient technology-driven operating base, partners with leading fintech platforms to create a market leading SME service using the best-in-class technology. Recognise has a strong independent Board and an executive team with over 280 years' experience of banking. In five years', time it aims to reach 54,000 depositors and 5,100 borrowers. Recognise is a subsidiary of the City of London Group.
Click here for further information on Recognise. Follow us on our LinkedIn by clicking here.