Appointment of Vanquis Bank Managing Director

Provident Financial plc announces the appointment of Neil Chandler, Managing Director, Vanquis Bank

Provident Financial plc is pleased to announce the appointment of Neil Chandler as Managing Director of Vanquis Bank. Neil will join the Vanquis Bank Board and start as Managing Director on the 15th April 2019, subject to regulatory approvals.

Neil Chandler was until recently the Chief Executive Officer, Shop Direct Financial Services and a member of the Shop Direct Group Executive. Previously he was Chief Executive Officer, Sainsbury's Bank, and became Head of Personal Loans at HBOS, after joining as Chief Operating Officer for Cards. He has a strong financial services background, including, consumer finance, retail banking, loans and cards, combined with proven leadership and digital skill set.

Malcolm Le May, Chief Executive Officer, Provident Financial plc said:

"I am delighted Neil Chandler is joining us to lead the next phase of Vanquis Bank's growth as it attracts new card customers and works closer with MoneyBarn to give its 1.8 million customers access to car finance. Neil has the ideal skill set to build on Vanquis Bank's successful track record, strong retail banking, cards and consumer finance experience, combined with a collegiate, practical and customer focused approach to building long-term sustainable businesses."

Neil Chandler said:

"I am very excited to be joining Vanquis Bank as its new Managing Director. Provident Financial plc, and Vanquis Bank within it, plays an important role in society by providing access to good quality financial services and products to a 10 to 12 million marketplace. I look forward to working with Malcolm and with the Bank's senior management team and Board as we execute on our part of the Provident Group's strategy and deliver for our customers and the Provident Group's shareholders."

Notes to editors

1. Provident Financial plc is the leading provider of credit products to those consumers who are not well served by mainstream lenders. The group serves 2.5 million customers and its operations consist of Vanquis Bank, the Consumer Credit Division (CCD) comprising Home Credit and Satsuma, and Moneybarn.

2. Neil Chandler joined Shop Direct Group Ltd in 2009, and became Chief Executive Officer, Shop Direct Financial Services and a member of the Shop Direct Group Executive. He was Chief Executive Officer at Sainsbury's Bank plc from 2008 till 2009. Prior to that he was at HBOS Plc for 2004 to 2008. He joined as Head of Operations and IT, Cards & Head of Sales, Operations and Change, Loans and Cards, and became Head of Loans in 2006. Between 2001 and 2003 he was Chief Technology Officer at Sequence (formerly Royal & Sun Alliance Property Services), and began his career in the mid 1990's at Accenture (UK) Ltd.