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5 March 2014 - John Pearmund to retire as Group CEO, Alexander Labak appointed as his Successor

Domestic & General announces that John Pearmund, who has been Group Chief Executive of the Domestic & General Group since January 2004, is to retire at the end of April 2014 and Alexander Labak (‘Alex’) is joining the Group as CEO Designate on 10 March 2014 and will become Group Chief Executive subject to approval by the Prudential Regulatory Authority.

Commenting on John’s retirement, Kevin Beeston, Chairman of Domestic & General said:

'John has done a superb job at D&G, taking it from a middle size UK centric business into a significant international Group in his ten years at the helm. We are very grateful for his exceptional contribution and wish him a long and happy retirement.'

Alex Labak is Austrian born and has wide experience of consumer focussed businesses across the world. He has worked for a full range of blue chip businesses including Henkel, Johnson and Johnson Consumer Products, Deutsche Bank, MasterCard and most recently Home Credit BV. In his last role as Chairman and Chief Executive he built Home Credit into a market leading consumer finance and retail banking organisation in emerging markets in both Europe and Asia.

Commenting on his appointment, Alex said:

'I am delighted to be joining Domestic & General and investing in the business with the management team. The combination of its rock solid business profile together with it very attractive growth opportunities make it a very exciting organisation to be part of in the future.'

Press enquires between 9.00 – 17.00:              D&G – Kevin Beeston. Chairman. 0208 879 8406

Dr Alexander Labak - Biography

Alex has over 25 years of experience with major international corporations, most recently as Chairman & CEO of Home Credit BV, a consumer finance and retail banking group, where he was responsible for Europe and Asia. Before joining the Home Credit Group, he held executive positions at MasterCard International between 2004 and 2006, where he served as President Europe and a member of the Global Operating Board and, from 1999 to 2004, he was Chief Marketing Officer and a member of the Group Operating Board of Deutsche Bank AG.

Prior to joining Deutsche Bank, he held senior management and marketing positions in a number of leading global organisations in Europe and North America including Chief Marketing Officer for Foundation Health Systems in the United States, Vice President Marketing for Johnson and Johnson Consumer Products in North America and Canada, and Brand Manager for Henkel in Italy and Austria.

Alex is a Fulbright Scholar holding an MBA from the Wharton Business School and a PhD from the Vienna University of Economics & Business Administration.

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