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Chetwood Financial has announced that its co-founder and chief executive, Andy Mielczarek (pictured), is stepping down from his role.
Mielczarek, who has led the digital bank since its inception, will depart at the end of the month. Paul Noble is set to replace him, subject to regulatory approval.
The Wrexham-based digital bank was founded in 2016 and received a restricted banking licence in 2017, followed by a full UK banking licence in December 2018. The bank has since grown, with its SmartSave savings platform attracting over £3.5 billion in deposits.
Earlier this year, Chetwood entered the buy-to-let mortgage market through its acquisition of CHL Mortgages for Intermediaries. The company also plans to launch ModaMortgages soon.
Mielczarek, who previously held senior roles at HSBC, M&S Bank, and MBNA, said he was proud of Chetwood’s achievements and described the decision to step down as timely.
“After 10 years, now’s the right time for me to hand over the reins to someone new,” Mielczarek said. “There are exciting, bold plans for Chetwood, and I’ve no doubt Paul is the right person to guide the business through its next stage.”
Noble, who joins Chetwood from JN Bank UK where he was CEO, brings over 25 years of financial services experience. He has held senior roles at Pollen Street Capital, where he led the investment into Tandem Bank, and co-founded 118 118 Money.
“The opportunity to help drive the company forward was one I had to grab,” Noble said. “There are exciting plans in place, and I look forward to playing my part.”
Ian Lonergan, group chair of Chetwood Financial, thanked Mielczarek for his pivotal role in building the bank.
“Andy has done an incredible job, and he leaves the business in an extremely strong position,” said Lonergan, who also expressed confidence in Noble’s ability to lead the bank through its next phase of growth.
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