Secure Trust Bank announces CEO transition plans

(Sharecast News) - Secure Trust Bank announced the retirement of its chief executive officer David McCreadie on Tuesday, after more than four years in the role and nearly six years on the board. He would be succeeded by Ian Corfield, who would take over as CEO on 16 August, subject to regulatory approval.

Corfield would join the bank as CEO-designate from 23 June to facilitate a smooth leadership transition, and McCreadie would remain with the bank in a supporting role until June 2026.

The board said McCreadie led a strategic transformation at Secure Trust Bank, increasing its lending portfolio from £2.2bn to £3.7bn, refreshing the senior team, and navigating a period marked by the Covid-19 pandemic and geopolitical uncertainty.

Reflecting on his tenure, McCreadie said: "It has been a privilege to lead Secure Trust Bank and to work with so many talented people.

"We expect to achieve our current strategic ambitions in the near term and the foundations are in place to support the delivery of enhanced returns."

Chair of the bank, Jim Brown, said: "Ian brings significant strategic, financial services and consumer finance expertise with a focus on driving innovation in customer experience.

"We look forward to working with Ian to accelerate our growth plans and deliver value for our customers, colleagues and shareholders."

Corfield would bring more than two decades of experience in financial services, most recently serving as chief commercial officer of NewDay.

His previous roles included CEO of Aussie Home Loans and of business and retail banking at Bankwest in Australia, and senior positions at Halifax Bank of Scotland.

He currently advises HM Treasury, and would leave his post as specialist partner at Flint Global ahead of assuming his new role.

Commenting on his appointment, Corfield said: "It is an exciting time to be joining the Group as we set our strategy for 2026 and beyond.

"The key priority will be to continue to execute on our plans to enhance returns."

At 1159 BST, shares in Secure Trust Bank were down 0.53% at 754p.

Reporting by Josh White for Sharecast.com.