Board Change

01 Mar 2017

UK Asset Resolution Ltd (“UKAR”) today announces that David Lunn, a Non-Executive Director appointed by UK Financial Investments Ltd (”UKFI”), stepped down on 28 February 2017 from the Boards of UKAR, Bradford & Bingley plc and NRAM Limited to take up a new position within HM Treasury.

In accordance with the Large and Medium Sized Companies and Groups (Accounts and Reports) (Amendment) Regulations 2013, we can confirm he will receive no payments for loss of office.

UKFI is responsible for managing the Government's 100% shareholding and loans in UK Asset Resolution Ltd ("UKAR") and its subsidiaries, NRAM Limited and Bradford & Bingley plc.

ENDS

Media Contact:

Brunswick

Jonathan Glass / Nick Cosgrove
Tel: +44 20 7404 5959
Email: ukar@brunswickgroup.com

NOTES TO EDITORS

UK Asset Resolution Limited (UKAR)

UKAR, the holding company for NRAM Limited (NRAM) and Bradford & Bingley plc (B&B), was established on 1 October 2010 to facilitate the orderly management of the closed mortgage books of both B&B and NRAM to maximise value for taxpayers, while ensuring that both companies continue to treat customers fairly, deliver consistently high levels of service and support those customers facing financial difficulty.

Further information about UKAR is available at www.ukar.co.uk.

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Press releases

Board Change
01 Mar 2017
UK Asset Resolution Ltd (“UKAR”) today announces that David Lunn, a Non-Executive Director appointed by UK Financial Investments Ltd (”UKFI”), stepped down on 28 February 2017 from the Boards of UKAR, Bradford & Bingley plc and NRAM Limited to take up a new position within HM Treasury.
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