Andy Mielczarek (pictured) is stepping down as CEO of Chetwood Financial, the bank he co-founded nearly 10 years ago.
Paul Noble has been appointed as his replacement, pending regulatory approval.
Chetwood Financial was founded in 2016 and received a full UK banking licence in December 2018.
Since 2019, the bank’s savings product, SmartSave, has attracted over £3.5bn in deposits.
Earlier this year, Chetwood entered the buy-to-let (BTL) mortgage market by acquiring CHL Mortgages for Intermediaries, and plans to launch new lender ModaMortgages soon.
Mielczarek served as CEO since the bank’s inception, having previously held positions at HSBC, including deputy head.
He will leave the company at the end of this month and will take time before deciding on his next move.
Noble joins Chetwood from JN Bank UK, where he was CEO.
With over 25 years in financial services, Noble has experience in both startups and large banks, including co-founding 118 118 Money.
Mielczarek said: “What a journey it’s been.
“Starting a new bank was never going to be easy, and I am proud to see the progress Chetwood has made.
“From opening our first office in Wrexham and getting a banking licence, to taking billions of pounds in deposits and expanding into different markets, the company has gone from strength to strength over the years.
“It’s a testament to the brilliant people who work here, and the unwavering focus on creating financial products that make people better off.
“After 20 years, now’s the right time for me to hand over the reins to someone new.
“There are such exciting, bold plans for Chetwood over the coming months and years, and now’s a logical time for a change in leadership to inject fresh life into the business and guide it through the next stage of its journey – I’ve no doubt Paul is the right person to do just that, and I wish him and the entire organisation all the very best.”
Ian Lonergan, group chair of Chetwood Financial, said: “Firstly, we must recognise what an incredible job Andy has done in building Chetwood Financial from just an idea to being a fully-fledged digital bank that delivers market-leading products.
“He has an inspiring level of drive, determination and vision, and he leaves the business in an extremely strong position.
“We’re really excited to now welcome Paul as CEO – given his vast experience and superb leadership skills, we have every confidence that he will steer us confidently through the next chapters of our story.”
Noble said: “I am delighted to join Chetwood Financial. Andy and the team have built a brilliant digital bank here, and the opportunity to now help drive the company forward was one that I simply had to grab with both hands.
“There are really exciting plans in place, and I can’t wait to play my part. The emphasis will remain on delivering exceptional products and service to all our customers, but we have ambitions to enter new markets and fast-track our growth in the future.”
