Vanquis Chairman Snowball to Exit as Share Price Languishes (1)

Vanquis Banking Group Plc Chairman Patrick Snowball is planning to step down from the UK subprime lender amid a strategic shift that so far failed to see its share price reach previous highs.

Snowball will remain in the role until a successor is named, Vanquis said in a statement Friday, confirming an earlier Bloomberg News report. The 72-year-old ran Australia’s Suncorp Group Ltd. after the financial crisis and has been Vanquis’s chairman since 2018.

The move marks another leadership change at the company following the departure of Chief Executive Officer Malcolm Le May, which was announced in January. ...