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Shawbrook appoints new chief executive

Shawbrook appoints new chief executive

UK specialist lending and savings bank Shawbrook Group has appointed Steve Pateman as its new chief executive.

Richard Pyman will be stepping down as chief executive officer following his decision to take leave of absence on 21 May and that he will leave the group with immediate effect.

Mr Pateman joins Shawbrook from Santander UK, where he is executive director and head of UK Banking, running the bank’s corporate, commercial, business and retail banking operations as well as wealth management.

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Mr Pateman will take up his position on 1 January 2016 subject to regulatory approval.

Tom Wood, who has been running the bank during Mr Pyman’s absence, will remain interim chief executive until Mr Pateman’s arrival, after which he will continue his role as chief financial officer.

Iain Cornish, chairman, said: “Richard has helped develop Shawbrook into a specialist lending and savings bank that supports our customers with first class service and strong values.

“The board is extremely grateful to Richard for his exceptional commitment and contribution to the group, in particularly for his leadership through the bank’s successful IPO.

“The board would also like to thank Tom for his energy and dedication in leading Shawbrook to continue to deliver strong results as interim chief executive officer.”

ruth.gillbe@ft.com