Regulatory News

Equals (AIM:EQLS), the fast-growing B2B focused e-banking and international payments group, is pleased to announce the appointment of Sian Herbert as an Independent Non-Executive Director.  The appointment will become effective as of 1 October 2020, with Sian taking the position of Head of the Audit Committee.

Sian Herbert has had an extensive City career spanning 35 years within audit, financial crime, risk and regulation, focusing on the financial services and technology sectors.  She gained 25 years’ experience at PricewaterhouseCoopers LLP (‘PwC’), including fifteen years as Partner, stepping down in June 2020.  At PwC, Sian was a partner within the forensic services group, becoming an established expert in financial services, e-money and payment services, advising on financial crime, risk, regulatory change and the impact of technology.

As well as being a member of the ICAEW, Sian is also a Member of the Hong Kong Society of Accountants.  Since July 2020, Sian has held a position as a Non-Executive Director of HBL Bank UK Limited.

Coinciding with the appointment of Sian Herbert, Bob Head, who has been a Non-Executive Director of the Company since July 2016, is stepping down from the Board.  Following a brief transition period, Bob will officially step down from the Board on 1 October 2020.

Commenting on the changes, Alan Hughes, Non-Executive Chairman of Equals, said: “We are delighted to be able to bring someone of Sian’s standing to lead the Audit Committee and contribute to the wider strategic initiatives of the Group.  Sian is a distinguished practitioner, having spent decades advising the highest levels of management on corporate strategy relating to the impact of financial technologies and regulatory change.  Her extensive knowledge will be of undoubted benefit to the Board and the Group.

“I would also like to thank Bob for his considerable contribution to the growth of Equals.  As Chair of Audit and Risk, Bob has embodied the key assets of a Non-Executive both in his depth of knowledge and his challenge to the Board and executives.  We wish him continued success in the future.”

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Notes to Editors:

Equals is a leading challenger brand in banking and payments that disintermediates the incumbent banks with a superior user experience and low-cost operating model.  The Group enables its personal and business customers to make easy, low-cost payments both domestically and in a broad range of currencies across a range of products all via one integrated system.

Equals provides money movement services to both business and personal customers through five inter-connected channels - International Payments, Corporate Expenses platform, Bank Accounts, Travel Money (comprising currency cards and physical currency).  International Payments channel supports wire transfer foreign exchange transactions direct to bank accounts.  For corporates, Equals has a market-leading business-expenses solution based around its corporate platform and prepaid card which yields significant cost savings via tighter control on expenses before they are incurred coupled with eliminating inefficient processes.  Equals also offers business and retail bank accounts with all the functionality offered by banks, namely faster payments, BACs, direct debits, international payments and a debit card.  The Travel Money offerings (retail currency card and physical currency) represent cost-effective and secure methods for travelers to spend abroad.