Directorate Change

16 Dec 2005 07:00

Portman Building Society16 December 2005 PRESS RELEASE CHANGE OF GROUP FINANCE DIRECTOR AT PORTMAN BUILDING SOCIETY Glyn Smith, Group Finance Director of Portman Building Society, has announcedhis plans to retire from the Group with effect from February 2006. Thisdecision comes as a result of Glyn wanting to develop a non-executive career andspend more time with his wife in their new property in France. Glyn is 53 andhas been a member of the Board since 1 October 1999. Mark Gibbard, aged 44, will be appointed to the Board as the new Group FinanceDirector on 2 February 2006. Mark joins the Portman Group from Cheltenham &Gloucester, where he has been Group Finance Director for the last 8 years. Markhas over 20 years experience as an accountant in Financial Services and has helda number of senior roles in Treasury and Capital Markets before becoming FinanceDirector. Robert Sharpe, Chief Executive commented, 'Glyn has been a key member of theExecutive team for the past 6 years and has made a major contribution to theGroup's success during this period. We wish him well for the future.' Hecontinued, 'Following Glyn's retirement, we are delighted to have attractedsomeone with Mark's abilities and experience to the Portman and I know mycolleagues join me in welcoming Mark on board'. - Ends - For further information please contact: Helen Shaw, Group Communications Manager on 01202 563909 or 07887 830123 oralternatively, Lynsey Hallam, Group Press Officer on 01202 562256 or 07887830000. Editors Notes - About Portman Building Society Portman Building Society is the third largest UK building society and 13thlargest UK mortgage lender. In the five years since 2000, Portman has more than doubled in size. Duringthis period Portman was the fastest growing top ten building society by thethree key measures of total assets, mortgage balances and savings undermanagement. The Society's assets now exceed £16.5 billion and the Society and itssubsidiaries employ over 2,000 staff serving 1.8 million members. Currently, the Society has a total network of 146 branches. The Society's HeadOffice is in Bournemouth, Dorset and it has an administration centre based inthe West Midlands. This information is provided by RNS The company news service from the London Stock Exchange