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Arbuthnot's Paul Lynam steps down as director

Wednesday, 8th August 2018
Arbuthnot said Wednesday Paul Lynam would retire as Director with immediate effect as the group's recent move to launch an asset based finance business raises the conflict of interest risk for Lynam who also serves as CEO of Secure Trust Bank.

'In recent times, the Group has been seeking to build a Commercial Banking business, has acquired Renaissance Asset Finance and launched an Asset Based Finance business. These businesses have the potential to represent competition for Secure Trust Bank,' the company said.

'In order to remove the risk of conflicts of interest arising at some time in the future, Paul has decided to step down from the Board of ABG with immediate effect,' the company said.

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