ClearBank Announces New Chair

ClearBank® announced today that, Nick Ogden, has retired from his current Executive Chairman role having both successfully founded ClearBank® and guided it to the launch of its payments and agency banking services. Nick remains on the ClearBank® board as Founder Director and will continue to help the bank expand its vision.

Nick will be succeeded by David Gagie, who is currently an Independent Non-Executive Director of ClearBank®. David has global experience in banking, payments and risk management, and was a Senior Advisor on regulatory conduct issues relating to retail banking, consumer credit and payments at the Financial Conduct Authority and the Payments Systems Regulator. David is currently a Non-Executive Director at Shawbrook Bank, Small World Financial, and Lowell Group, where he chairs the Lowell UK business and the Lowell Group Risk and Audit committees. Formerly he held board-level appointments for Payzone Group, Mastercard UK, LINK, and Visa UK.

Nick Ogden said "I originally began developing ClearBank® in 2014 and became Executive Chairman upon authorisation as a Bank in 2016 for an agreed 2-year period. Those 2 years have passed very quickly, and Clearbank® has moved swiftly to become fully operational delivering a unique, market leading service for our regulated customers. ClearBank®’s unique independent position at the heart of the UK Open Banking revolution means that not only can we help drive success for our customers, we will also continue to innovate for the market as a whole. There are many new chapters ahead of us on the ClearBank® journey and with David taking on the role of Non-Executive Chair, I will have time to devote to these exciting innovation opportunities.

David Gagie commented: "ClearBank®’s cloud-based clearing and banking services will change the UK financial landscape by offering cost-effective, resilient payment and agency banking services to its clients, and I am excited to be joining ClearBank® at this pivotal time in its development. I would also like to thank Nick on behalf of the ClearBank®team for his outstanding leadership, vision, enthusiasm and commitment since the Bank’s inception and subsequent growth into the business it has become today. I look forward to working with Nick and the whole of the ClearBank®team."

Charles McManus, Group Chief Executive Officer of ClearBank® said: "I am delighted that David has joined to help lead Clearbank® through the next phase of its development. David brings to our team many years of global experience across banking and payments industries, as well as a wealth of board depth and capability and we welcome his perspective and contribution. I also wish to recognise the vision and leadership that Nick has brought to ClearBank® without which the bank would not have been established and look forward to continuing to work closely with him as a board colleague and continued advocate of our business."