Vanquis Banking Group is committed to maintaining high standards of governance. Here you’ll find an overview of how we comply with the UK Corporate Governance Code, as well as some of the finer details of our Board’s responsibilities, our committees and how we engage with our stakeholders.
As the Chair, Sir Peter Estlin has overall responsibility for running the Board. Our CEO, Ian McLaughlin, manages and leads our businesses through our senior management teams.
Our Board is made up of eleven members:
- Our Non-Executive Chairman, Sir Peter Estlin
- Our CEO, Ian McLaughlin
- Our CFO, Dave Watts
- A Senior Independent Director, Andrea Blance
- Six Independent Non-Executive Directors: Graham Lindsay, Angela Knight, Elizabeth Chambers, Paul Hewitt, Margot James and Michele Greene.
- Our Group General Counsel and Company Secretary, Melanie Barnett
To find out more about each of our Board members, click here.
We’ll discuss the responsibilities of our Board below. You can also find further information in the Governance section of our Annual Report.
Our Board committees
We have six principal Board committees:
- Group Risk
- Customer, Culture and Ethics
Further information on the committees and their responsibilities can be found here.
Being a responsible taxpayer
Taxes allow governments to fund essential public expenditure, enabling them to meet economic and social objectives. Paying tax is a key part of how our business contributes to society
We’re committed to being a fair and responsible taxpayer. We operate in an open, honest and straightforward manner in all tax matters and we’re fair and reasonable in all our dealings with tax authorities.
We seek to make sure that we comply with all tax rules and regulations the places where we operate. We safeguard our reputation as a responsible taxpayer, while recognising that we also have a responsibility to protect shareholder value by managing and controlling our tax liabilities.
Our tax strategy
Our tax strategy, which was last updated and approved by our Board in December 2022 and can be accessed here, follows our corporate Purpose. Our tax strategy is aligned with HMRC’s Code of Practice on Taxation for Banks (the Code) which sets out the principles and behaviours expected of banking groups with regard to tax, and we have unconditionally adopted the Code.
To read more about what makes us a responsible tax payer, please see our latest Corporate Responsibility Report.
To meet the duty under paragraph 16(2), Schedule 19 of the Finance Act 2016, which requires large UK businesses to publish their tax strategies online, the Vanquis Banking Group plc Tax Strategy can be accessed here.
The Board’s responsibility is to promote the long-term success of our Banking Group.
We have independent oversight of our internal controls and risk management, the Board delegates certain responsibilities to six principal committees.