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Equals Group appoints former chief executive of First Direct as a non-executive director

Alan Hughes, a highly experienced director with a speciality in fast-growth banks and fintech businesses, was, until 2004, also an executive board member and general manager at HSBC Bank

Royal Bank of Scotland -
In 2013, he led a consortium backed by Blackstone and AnaCap which a £1bn bid for 312 Royal Bank of Scotland branches

Equals Group PLC (LON:EQS), the e-banking and international payments group, has announced the appointment of the former chief executive of challenger bank First Direct, Alan Hughes as a non-executive director with effect from 1 March.

In a statement, the AIM-listed group noted that Hughes is a highly experienced director with a speciality in fast-growth banks and fintech businesses, and, until 2004, he was an executive board member and general manager at HSBC Bank.

READ: Equals Group revenues and earnings surge in 2019

In 2013, he led a consortium backed by Blackstone and AnaCap which bid for 312 Royal Bank of Scotland branches, in a deal worth approximately £1bn.

Hughes is currently non-executive chairman of Unity Trust Bank PLC, an independent bank with a focus on social benefit, as well as senior independent director and deputy chair of Hitachi Capital (UK) PLC, a regulated personal finance company. 

John Pearson, Equals’ non-executive chairman commented: "We are delighted that Alan is joining the Group as he brings not only a wealth of industry expertise but also extensive experience as a successful director of fintech businesses.

“As Equals continues its growth trajectory, Alan's guidance as Non-Executive Director will be invaluable to the Group."

Quick facts: Equals Group PLC

Price: 29.384 GBX

AIM:EQLS
Market: AIM
Market Cap: £52.48 m
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