Kent Reliance’s Mike Lazenby to step down

Mike Lazenby is to step down as chief executive officer of OneSavings Bank on February 28.

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Mike Lazenby was CEO of Kent Reliance Building Society for more than eleven years and in January completed a deal that led to US private equity firm JC Flowers buying a 49% stake in the building society in return for a £50m capital injection.

Malcolm McCaig, chairman of OneSavings Bank, says Lazenby and the board have agreed that the time is right for him to step down from his position as CEO.

Mike Lazenby, says: “It has been a pleasure to serve members’ interests as CEO of Kent Reliance and latterly as CEO of OneSavings Bank. I am very proud of the strong reputation we have built in retail financial services, and it has been a privilege to work with such a talented team.

“I have no doubt that OneSavings Bank will go from strength-to-strength whilst retaining its mutual ethos at the heart ofthe business.”

The board has begun a search for a successor, and an announcement will be made in due course.

In the intervening period, finance director Bob Scruton will assume the role of Interim CEO.