Skipton International Appoints New MD

ST PETER PORT, Guernsey, March 28, 2011 /PRNewswire/ -- Skipton International, the leading Guernsey mortgage and savings bank, has announced today the appointment of Jim Coupe as its new Managing Director.

Jim joined Skipton International in 2009 as Commercial Director; since then the business has seen substantial growth, leaping to the number one spot as the Island's leading mortgage lender in 2010. Skipton International is also a major provider of savings accounts for both businesses and local residents, being a Moneyfacts award winner for its savings accounts.

Jim was previously with Central Trust Plc., where he was Broking Operations Director.

Commenting on his new appointment, Jim said, "I am delighted to be taking over the helm at Skipton International at such an exciting time in our development. I will be leading a gifted team of both mortgage and savings specialists here, something that was recognised by our recent shortlisting in the Best Medium Business category in the coveted 2010 Guernsey Awards for Achievement. After our impressive business performance both here and in Jersey last year, we are all looking forward to developing the business still further."

Richard Twigg, Chairman of Skipton International added, "On behalf of the Board I am delighted to announce Jim's appointment, following a thorough process involving a number of high calibre candidates. Jim has already moved quickly to build on and enhance Skipton International's reputation as a dynamic business operation with a strong community focus through our sponsorships such as the Skipton Swimarathon, and we look forward to working with Jim who has the strategic and operational capability and passion to drive Skipton International through its next stage of development."

Skipton International Ltd is a wholly owned subsidiary of Skipton Building Society, the fourth largest in the UK with almost GBP14 billion assets.

For more information on Skipton International mortgage and savings products, visit http://www.skiptoninternational.com or call +44(0)1481-730-730

Editor's notes:

1. AER stands for Annual Equivalent Rate and illustrates what the rate would be if interest was paid and added each year.

2) Skipton International Limited (SIL) is a wholly owned subsidiary of Skipton Building Society (SBS), the UK's 4th largest building society with over GBP14 billion assets.

3) SIL is licensed under the Banking Supervision (Bailiwick of Guernsey) Law 1994, as amended.

4) Skipton Building Society has given an undertaking agreeing to discharge the liabilities of SIL in so far as SIL is unable to discharge them out of it own assets and whilst SIL remains a subsidiary of Skipton Building Society.

5) As a Licensed Bank in Guernsey, Skipton International Limited is a participant in the Guernsey Banking Deposit Compensation Scheme (the "Scheme") established by The Banking Deposit Compensation Scheme (Bailiwick of Guernsey) Ordinance, 2008 (the "Ordinance"). The following is a brief summary of the Scheme, but is not intended as a substitute for the actual wording of the Ordinance, a copy of which is available on request.

      - The Scheme only applies to 'qualifying deposits', which
        broadly means deposits made by natural persons for their own benefit;
        with a few limited exceptions such as, for example, deposits made by
        trustees of retirement annuity trust schemes, the Scheme does not
        apply to companies, trusts, partnerships or charities.

      - The Scheme will provide compensation in the event that a
        Licensed Bank is unable to repay its depositors. Under normal
        circumstances, payment will be made within 3 months of receipt of a
        valid claim form.

      - Compensation is limited to a maximum of GBP50,000 per
        individual claimant; in the case of a joint account each depositor
        would be entitled.

      - Total Scheme compensation in any five year period is limited
        to GBP100 million. If claims exceed this cap, compensation would be
        reduced pro rata. The cap also means that compensation in respect of
        any one bank cannot exceed GBP100 million.

      - The amount payable may be reduced if the Bank has any
        contractual right of set-off against the account. The Scheme is
        entitled to recover compensation from any funds subsequently paid out
        by the Bank.

      - Further information and a leaflet about the Scheme is
        available at:

        Website: http://www.dcs.gg
        Telephone: +44(0)1481-722756
        Post: P.O. Box 380, St Peter Port, GY1 3FY

6) Deposits made with SIL are not covered by the Financial Services Compensation Scheme established under the UK Financial Services and Markets Act 2000.

7) SIL places funds with SBS and thus its financial standing is linked to SBS. Publicly available information, including reports and accounts, is available from http://www.skipton.co.uk.

    8) Copies of the latest SIL audited accounts are available on request.

    Media contacts: Please contact:
    Guy Stephenson/Jennifer Duffy
    Nacelle Limited
    Tel: +44(0)20-8333-9125
    +44(0)7980-241-558
    E-mail: [email protected]

SOURCE Skipton International