Provident Financial plc (PFG) and Vanquis Bank Limited announced as part of the new governance structure, and with effect from 13 January 2022, the following directors of PFG have each been appointed to the Board of Vanquis Bank, such that they now hold roles on the PFG and Vanquis Bank Boards, as well as to the relevant Board Committees of Vanquis Bank: Patrick Snowball (Chairman), Malcolm Le May (Chief Executive Officer), Neeraj Kapur (Chief Financial Officer), Andrea Blance (SID and Remuneration Committee Chair), Angela Knight (NED), Paul Hewitt (NED), Graham Lindsay (NED) and Margot James (NED). Elizabeth Chambers will retain her position on the PFG Board as an Independent Non-Executive. Subject to receipt of applicable regulatory approvals, Angela Knight will take on the role of Risk Committee Chair of Vanquis Bank and Paul Hewitt will take on the role of Audit Committee Chair of Vanquis Bank.

As a consequence of these changes, Robert East (Independent Non-Executive Director on PFG Board and Chairman of Vanquis Bank) will step down from the PFG Board and Vanquis Bank Board with effect from 13 January 2022. Each of the other existing Non-Executive Directors on the Vanquis Bank Board will step down from the Vanquis Bank Board with effect from 13 January 2022. In addition, Neil Chandler (Managing Director) and Gary Thompson (Finance Director) of Vanquis Bank have decided to leave PFG.

They will each step down from their roles as directors on the Vanquis Bank Board as of 13 January 2022's date and will leave PFG on 31 March 2022 following a handover period. Other than the resignation referred to above, the Board of PFG remains unchanged.