Board Changes

11 June 2021

CITY OF LONDON GROUP PLC

("COLG" or the "Company")

Board Changes

City of London Group Plc (AIM: CIN) confirms that as announced on the 24 May 2021, Colin Wagman has retired from his role as Non-executive Chairman and Director of the Board of COLG with immediate effect. Philip Jenks has assumed the position of Non-executive Chairman of COLG.

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About City of London Group

City of London Group (AIM: CIN), is a forward-thinking organisation focused on serving the UK SME market, predominantly focused on lending to the SME market through its subsidiary, Recognise Bank.

In 2020, the Company raised £27 million to launch Recognise Bank which received AwR in November. The Board and leadership team have extensive experience in the financial services arena and expect to receive full authorisation for Recognise later in 2021.

For more information please visit: https://www.cityoflondongroup.com/ 

About Recognise Bank Limited

Recognise Bank was formed to provide financial services to the UK Small and Medium Enterprises sector and the retail and business savings markets. It will target an underserved but growing SME segment offering a relationship-led, digitally enabled proposition.

The bank's efficient technology-driven operating base, partners with leading fintech platforms to create a market leading SME service using the best-in-class technology. Recognise has a strong independent Board and an executive team with over 280 years' experience of banking. In five years', time it aims to reach 54,000 depositors and 5,100 borrowers. Recognise is a subsidiary of the City of London Group.

Click here for further information on Recognise. Follow us on our LinkedIn by clicking here.