Press4th October 2023

ClearBank Group Holdings appoints four non-executive board members ahead of international expansion

Group Hold Co blog
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  • Peter Herbert, Tim Wade, Richard Anderson and Susanne Hannestad take up Chair, Senior Independent Director, Chair of Risk and Non-Executive Director positions respectively.
  • The appointments and creation of a new Group Board add vital expertise ahead of ClearBank’s international growth plans over the next 12 months.
  • The appointments complement the skills and independent experience of ClearBank’s existing UK Board and EU Supervisory Board as the Bank continues to scale internationally.

ClearBank, the enabler of secure accounts, real-time clearing and embedded banking for financial institutions, today announced the appointment of four new non-executive directors at its parent company, ClearBank Group Holdings.

The appointments come as ClearBank continues to build its business whilst also looking towards international expansion. The business is focused on adding experience in banking and payments across the globe, as well as an understanding of fast scaling and business transformation in the markets that ClearBank will be entering over time. The appointments remain subject to regulatory approval of ClearBank Group Holdings.

The appointments are:

  • Peter Herbert as ClearBank Group Chair. Peter also holds the position as Chair of Bank of Ireland (UK) and most recently was Chair of Zopa Bank. Peter has extensive executive and Board experience with particular expertise in driving change and growth in financial services, with a focus on retail and commercial banking.
  • Tim Wade as Senior Independent Director and Group Chair of Audit Committee. Tim is also Chair of Audit Committee at Royal Bank of Canada Europe Ltd and Virgin Money PLC, and has extensive senior management experience at a number of financial services providers.
  • Richard Anderson as Group Chair of Risk Committee. Until recently Richard was the non-executive Chair at Banking Competition Remedies and is a former Chair of the Risk Committee at Pay.UK. Richard has board experience of business undergoing major change, and deep-rooted payments experience.
  • Susanne Hannestad as Non-Executive Director. Susanne holds board positions at Triodos Bank, Monty Mobile Ltd, Crunchfish and Zimpler, and brings a deep understanding of global cultures, regulatory environments, and operating practices. These are critical components as ClearBank continues to scale, both within the UK and internationally.
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The new board will guide ClearBank as it continues to grow, onboard new customers, and expand into new markets. With deep experience in steering businesses undergoing change, and specialisms in financial services, the board will give ClearBank the governance necessary for success on an international basis.

“ClearBank is a business with great ambitions, keen to build on the success we’ve enjoyed since our founding less than a decade ago,” said Charles McManus, Group CEO at ClearBank. “We’re delighted to be able to attract top-tier talent to our board and look forward to working with them as we tackle exciting new challenges.”

Peter Herbert, ClearBank Group Chair: “ClearBank is a flagship fintech success story, set to become a global one. Its story has only just begun and I’m excited to be joining for the next chapter.”

Tim Wade, Senior Independent Director and Group Chair of Audit Committee: “It’s a privilege to join a company that is new enough to be innovative, yet already a key part of the UK financial services market. I look forward to being part of the team guiding it as it breaks new ground.”

Richard Anderson, Group Chair of Risk: “The last year has not been an easy one for fintech or financial services in general, but ClearBank has bucked these trends and continues on a path of accelerated growth and profitability. I have no doubt its success in the UK will be replicated in these new markets.”

Susanne Hannestad, Non-Executive Director: “ClearBank is on the cusp of a period of significant transformation, entering new markets, expanding its proposition, and reaching new customers. It’s the perfect time to join this fintech giant.”

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