Mike Lazenby – the chief executive of OneSavings bank has stepped down and is slated to leave the firm by the end of the month.
He had served as the chief executive of Kent Reliance Building Society for 11 years before founding OneSavings Bank.
Mr. Lazenby, who leaves on February 28, was instrumental in founding the OneSavings bank, presently jointly owned by private equity JC Flowers and Kent Reliance Provident Society. The New York based private equity firm had infused £50 million capital after the bank was created as part of a restructuring deal.
Current Finance Director Bob Scruton will act as the interim chief executive till the board finalises the next chief.
“He played a key part in the creation of OneSavings Bank, and, in doing so, has helped protect the interests of members as part of a bigger, better capitalised and competitive player in the financial services sector”, said Malcolm McCaig – Chairman of OneSavings Bank.
“Having achieved this, Mike and the board have agreed that the time is right for him to step down from his position as chief executive”, he added.