IL0A.L Regulatory News (IL0A)

Statement By Permanent TSB Group Holdings plc

Permanent TSB plc (trading as Permanent TSB) is a wholly owned subsidiary of Permanent TSB Group Holdings plc.

Permanent TSB Group Holdings plc. (the Company) is pleased to announce the appointment of Mr. Eamonn Crowley as Chief Executive Officer (CEO) effective immediately. Mr. Crowley is currently the Company's Chief Financial Officer (CFO) and a Board Executive Director. The Company confirms the regulatory fitness and probity assessment process and consultation with the Minister for Finance in Ireland has also completed.

Mr. Jeremy Masding has stepped down as CEO. He will remain as a Board member until his departure from the Company on the 01st July 2020.

Mr. Crowley is an experienced business leader, having held a number of senior executive roles prior to joining Permanent TSB in 2017, including; Chief Financial Officer of Bank Santander Poland and Chief Operating Officer of AIB's Central and Eastern Europe Division.

Speaking today, the Company's Chairman, Robert Elliott said; 'Following an extensive selection process, I am delighted to announce the appointment of Eamonn Crowley to the role of CEO. Over the last three years, Eamonn has made an enormous contribution to the Bank in his role as CFO, and as a member of the Executive Committee and Board. Given his breadth of experience and in-depth knowledge of the Bank, I have no doubt that he will successfully lead Permanent TSB through the current Covid-19 crisis and beyond.'

Commenting on his appointment today, Eamonn Crowley said: 'I am pleased to take on this role as CEO and to continue my journey with my Bank colleagues and the Board. My immediate priority will be to navigate the impact of Covid 19 on our customers and on the Bank itself over the coming months. Looking further ahead, I will draw inspiration from Permanent TSB's 200 year history in communities up and down the country and embrace that positive heritage to connect in really meaningful ways with our customers. I am committed to working hard every day to build trust with our customers and continuing to evolve banking culture for the better.'

For an interim period, and pending the appointment of a new CFO, Mr. Crowley will continue to perform the Company's Chief Financial Officer duties. The CFO recruitment process has commenced, supported by international search firm Heidricks & Struggles.

Ends