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Sainsbury’s Bank Announces Appointment Of Chief Risk Officer

14 August 2013

Mark’s appointment follows the announcement earlier this year that J Sainsbury plc will purchase Lloyds Banking Group’s 50 per cent 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. Mark will join the Sainsbury’s Bank Board.

Mark 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, Mark was Chief Risk Officer for ING Direct UK where he helped them stabilise the business model and worked closely with the regulatory bodies. Previously, Mark held Chief Financial Officer and Executive Director of Risk Management roles within ING Direct Australia.

Peter Griffiths, CEO of Sainsbury’s Bank, said:  “We are delighted that Mark is joining Sainsbury’s Bank.  Mark brings with him excellent experience and a proven track record in the delivery of robust risk management and sustainable growth. We believe his experience will be an asset to the Bank as we enter this next chapter of our history.”

Mark Mullington said: “It is an exciting time to be joining Sainsbury’s Bank and I am looking forward to working with Peter and the Board to help drive further responsible and sustainable growth.  We have a unique customer proposition and a massive opportunity with 23 million customers visiting Sainsbury’s stores every week.”

Mark is re-locating to Edinburgh from London.

ENDS

For further information:

Sainsbury’s Bank        

Phil Anderson                                       Natasha Virtue             

0207 282 1031                                       0131 338 2974

Sainsbury’s Bank:

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Sainsbury’s was the first major British supermarket to open a bank, commencing trading in February 1997. Benefiting from a fantastic, trusted brand that enables us to combine the shopping experience with personal finance, Sainsbury’s Bank provides a range of quality products including insurances, credit cards, savings and loans. Our proposition is to make shopping more rewarding by offering customers great products at fair prices, while consistently rewarding shoppers for their loyalty and being easy to do business with at all times. Our products consistently top best buy tables and regularly win awards for quality, price and service.

So far in 2013, the Bank has been awarded ‘Personal Loan Provider of the Year’ – Consumer Moneyfacts, ‘Best Loan Provider’ – Money Supermarket Supers and ‘Best Credit Card for Rewards’ – Moneynet.

Sainsbury’s Bank has its own banking licence, is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (register no. 184514), except for Credit Cards and Loans where it is licensed by the Office of Fair Trading (OFT) license no. 421897. The Bank has an independent membership to the Financial Services Compensation Scheme.