2nd Oct 2015 08:09
LONDON (Alliance News) - FTSE 250-listed lender Shawbrook Group PLC said it has hired Steve Pateman from Santander UK PLC as its new chief executive officer.
Pateman moves from his role as executive director and head of UK banking at Santander UK, the UK arm of Spanish banking giant Banco Santander UK, and was responsible for the bank's corporate, commercial and retail franchises, along with its wealth management business.
Subject to regulatory approval, Pateman will take up his role at Shawbrook on January 1, 2016. He will replaced Richard Pyman, who will step down as Shawbrook's chief executive and will leave the company with immediate effect. Pyman has been on a leave of absence from the group since May.
Tom Wood, who has been interim chief executive in Pyman's absence, will remain in the role until Pateman joins, after which he will revert to his role as chief financial officer.
"On behalf of the board, I am delighted to welcome Steve as Shawbrook's new chief executive. He brings a tremendous breadth and depth of experience across all of our asset classes and an outstanding track record in building highly successful SME banking businesses," said Iain Cornish, Shawbrook's chairman.
Shares in Shawbrook were up 1.0% to 315.10 pence on Friday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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