Vanquis Banking chairman Snowball to step down

Vanquis Banking Group said on Friday that chairman Patrick Snowball plans to step down from the board this year.

Snowball, who has been chairman since 2018, will stay on until a successor has been appointed and to support the transition to the group's new chief executive officer, Ian McLaughlin, who starts in July.

"With both the transformation of the group to a specialist banking group complete and the appointment of Ian announced, Patrick has signalled that it is the right time to put in place his own succession plans," Vanquis said.

Senior independent director Andrea Blance will lead the search for a new chair, conducted by the Nominations Committee with the support of an executive search firm.