Mortgage Advice Bureau announces Stephen Smith to its Board as upcoming Independent Non-Executive Director

– UK, Derby – Mortgage Advice Bureau Holdings plc (AIM:MAB1), is pleased to announce the appointment of Stephen Smith as an independent Non-Executive Director of the Group with effect from 24 January 2018. Stephen will serve on the Audit, Remuneration, Nomination, and Risk and Compliance Committees.

Stephen joined Legal and General Group plc (“L&G”) in 1994 and retired at the end of 2017. In his most recent role as L&G’s Housing Director, he was responsible for digital projects in the mortgage and housing space, as well as L&G’s strategy in the insurance markets as it relates to the mortgage and housing markets. Stephen was also previously responsible for the L&G Mortgage Club, L&G Surveying Services and L&G Estate Agency Operations. In addition, Stephen spent 14 years on the Association of Mortgage Intermediaries (AMI) board and several years as deputy chairman and member of the Bank of England’s residential property forum.

MAB also announces the retirement of Richard Verdin as an independent Non-Executive Director of the Group and member of the Audit, Remuneration, Nomination and Risk and Compliance Committees with effect from the conclusion of the Group’s Annual General Meeting to be held on 16 May 2018. Following Richard’s retirement, Stephen will Chair the Risk and Compliance Committee.

Chief Executive Officer, Peter Brodnicki, said: “I have known Stephen for many years and have always respected him greatly. He is a superb addition to the MAB board, and the knowledge and experience he brings will be of great value as MAB looks to lead the way in digitally enabling intermediary distribution, by embracing technology and working closely with lenders and insurers to deliver the best possible customer experience. I would like to take this opportunity to thank Richard for his superb contribution since IPO. It’s been an absolute pleasure working with him.”

Chairman, Katherine Innes Ker, said: “I am delighted to welcome Stephen to the Board. Stephen has a wealth of experience in the mortgage and insurance markets. Stephen’s appointment brings excellent insight to the Board and supports the strategic direction of the Group.

“On behalf of the Board, I would also like to thank Richard Verdin for the contribution he has made since joining the Board at the time of MAB’s IPO in November 2014. Richard has been a valued member of the Board and the Audit, Remuneration, Nomination and Risk and Compliance Committees. His experience and insight has been invaluable in the development of MAB and its customer centric approach and we wish him well as he continues to pursue his executive career.”

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