OSB Group appoints new chair designate; reconfirms annual guidance

OSB Group PLC on Thursday announced it had appointed Fiona Clutterbuck as chair designate, as it reported a resilient nine-month performance in line with expectations.

The Chatham-based lending and retail savings group that specialises in underserved properties and mortgages said Clutterbuck, who is currently chair of AJ Bell PLC, will join OSB's board on Monday.

Clutterbuck will become chair at time of its 2026 results presentation, although OSB did not provide an exact date, and will succeed David Weymouth who joined OSB's board as chair in September 2017.

AJ Bell also noted the appointment in a separate release.

Separately, OSB reported in a trading update for the nine months to September 30 a net loan book of £26.42 billion, up 1.9% from £25.92 billion at December 31.

Total assets fell 0.5% to £30.96 billion and retail deposits to £24.99 billion, from £31.12 billion and £24.25 billion respectively.

The group also announced cash tender offers totalling £700 million for Senior Holdco.

Looking ahead, OSB reconfirmed its 2026 guidance as set out in its first half results, where it said it expected return of tangible equity to be around 12.5% and net interest margin of 215 basis points to 220bps.

OSB shares rose 3.9% to 516.50 pence on Thursday afternoon in London.

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