July 23, 2014 9:17 PM ET


Company Overview of Sainsbury's Bank plc

Company Overview

Sainsbury's Bank plc, trading as Sainsbury's Finance, provides a range of banking products and services, including insurances, credit cards, savings, and loans. The company offers homeowner and other loans; credit cards; savings products and services, including extra saver, cash ISA, and fixed rate savings bonds; and car, home, pet, life, and travel insurance products. It also offers Travel Money, a foreign currency exchange service; double nectar points, allows users to collect points on flights, family days out, and shopping using its finance products; and customer support services. The company was incorporated in 1996 and is based in Edinburgh, United Kingdom with a store support centre i...

Haston House

2 Redheughs Rigg

South Gyle Crescent

Edinburgh,  EH12 9DQ

United Kingdom

Founded in 1996


44 500 405060


44 2072 822 804

Key Executives for Sainsbury's Bank plc

Chief Executive Officer
Age: 56
Chief Financial Officer
Chief Operating Officer
Chief Executive of Sainsbury's Plc
Age: 52
Deputy Chief Executive Officer and Commercial Director
Compensation as of Fiscal Year 2014.

Sainsbury's Bank plc Key Developments

Sainsbury's Bank Appoints Mark Mullington as Chief Risk Officer

Sainsbury's Bank appoints Chief Risk Officer. Mark Mullington has been appointed Chief Risk Officer. It follows the announcement earlier this year that J Sainsbury plc would purchase Lloyds Banking Group's 50% share of Sainsbury's Bank, making it the latest development in the retailer's overall strategy to grow sales and profits from complementary new business channels. The appointment further strengthens the bank's management team following the recent appointments of Chief Executive Officer, Peter Griffiths at the end of last year and already in 2013, Steve Burke as Chief Operating Officer and Roger Davis as Chairman. Mr. Mullington will join the Sainsbury's Bank Board. Mr. Mullington has extensive experience in finance, strategy, marketing and operations and over the last 12 years has focused on the development and implementation of robust risk management models within ING UK and Australia. Most recently, Mr. Mullington was Chief Risk Officer for ING Direct UK where he helped them stabilise the business model and worked closely with the regulatory bodies. Previously, he held Chief Financial Officer and Executive Director of Risk Management roles within ING Direct Australia.

Sainsbury's Bank Plc Appoints Roger Davis as Independent Non-Executive Chairman

The board of Sainsbury's Bank Plc has been strengthened in preparation for taking full ownership, and will operate independently of Sainsbury's executive management and Board. The company announced the appointment of Roger Davis as independent Non-Executive Chairman. Roger has a strong track record in financial services, having held a number of senior positions at Barclays, including Chief Executive Officer of UK Banking, Chief Executive Officer of Business Banking, and Chairman and Chief Executive Officer of Barclays Capital Asia Pacific. Prior to this he held a number of senior roles at companies including BZW Asia Pacific, Jardine Fleming and Robert Fleming. Peter Griffiths was appointed Chief Executive Officer of the Bank in November 2012. Peter has a wealth of experience in the financial services industry, including a number of senior roles at NatWest over 20 years. Most recently he has been the Chief Executive of Principality, Wales' largest building society. Hannah Bernard was appointed Deputy Chief Executive and Commercial Director of the Bank in November 2012, following a nine month period as Interim Chief Executive. David Arden was appointed Chief Financial Officer at the Bank in February 2013, having held the interim position since March 2012. Steve Burke joined the Bank in March 2013 as Chief Operating Officer. Prior to this, Steve was Chief Operating Officer of Diligenta. The two existing independent Non-Executive Directors Richard Keys and Alan Cook will be complemented by the appointment of two further independent directors with specific banking experience in risk and IT operations.

Sainsbury's Bank Plc Reports Earnings Results for the Fiscal Year Ended 2013

Sainsbury's Bank Plc reported earnings results for the fiscal year ended 2013. The company made a profit of £59 million in the fiscal year ended 2013, with a three-year pretax profit compound annual growth rate of 40%. The bank has gross assets of about £5 billion and no contingent liabilities.

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